Which of the following is true of sales tax?
A) The sales tax is the most important source of local revenue.
B) State sales tax on most retail goods is referred to as excise tax.
C) The general sales tax is set at a much higher rate than the specific sales tax.
D) State sales tax on specific items is referred to as general sales tax.
E) Every state, even those without a general sales tax, imposes selective sales taxes on some items.
Correct Answer:
Verified
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Q38: _ refers to a reduction in the
Q40: A tax on the privilege of removing
Q41: _ expenditures of state and local governments
Q42: Fiscal capacities can be defined as _.
A)limits
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