Chapter 01 an introduction to tax answer key true

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Macroeconomics for Today
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Chapter 12 / Exercise 7
Macroeconomics for Today
Tucker
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Chapter 01 An Introduction to Tax Answer Key True / False Questions 1. Taxes influence many types of business decisions but generally do not influence personal decisions.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Learning Objective: 01-01 Demonstrate how taxes influence basic business; investment; personal; and political decisions. Level of Difficulty: 1 Easy 2. Taxes influence business decisions such as where a business should locate or how a business should be structured.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Learning Objective: 01-01 Demonstrate how taxes influence basic business; investment; personal; and political decisions. Level of Difficulty: 1 Easy 3. Tax policy rarely plays an important part in presidential campaigns.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Learning Objective: 01-01 Demonstrate how taxes influence basic business; investment; personal; and political decisions. Level of Difficulty: 1 Easy 4. Margaret recently received a parking ticket. This is a common example of a local tax.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Learning Objective: 01-02 Discuss what constitutes a tax and the general objectives of taxes. Level of Difficulty: 1 Easy 5. George recently paid $50 to renew his driver's license. The $50 payment is considered a tax.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Remember Learning Objective: 01-02 Discuss what constitutes a tax and the general objectives of taxes. Level of Difficulty: 1 Easy 6. A 1% charge imposed by a local government on football tickets sold is not considered a tax if all proceeds are earmarked to fund local schools.
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Macroeconomics for Today
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Chapter 12 / Exercise 7
Macroeconomics for Today
Tucker
Expert Verified
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Analyze Learning Objective: 01-02 Discuss what constitutes a tax and the general objectives of taxes. Level of Difficulty: 2 Medium 7. One key characteristic of a tax is that it is a required payment to a governmental agency.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Analyze Learning Objective: 01-02 Discuss what constitutes a tax and the general objectives of taxes. Level of Difficulty: 2 Medium 8. Common examples of sin taxes include the taxes imposed on airline tickets and gasoline.
AACSB: Reflective Thinking AICPA BB: Critical Thinking Blooms: Analyze Learning Objective: 01-02 Discuss what constitutes a tax and the general objectives of taxes. Level of Difficulty: 2 Medium

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