1. The following defines taxation, except: * a. It is an inherent power of the state. b. It is an executive prerogative. c. It is a process of collecting contributions. d.It is a mode of allocating government costs or burden to the people. 2. It is an economic principle that states that the amount of tax an individual pays should be dependent on the level of burden the tax will create relative to the wealth of the individual. * a. Cost allocation b. Ability to pay c. Benefit received d. Lifeblood doctrine
1. The following defines taxation, except: * a. It is an inherent power of the state. b. It is an executive prerogative. c. It is a process of collecting contributions. d.It is a mode of allocating government costs or burden to the people. 2. It is an economic principle that states that the amount of tax an individual pays should be dependent on the level of burden the tax will create relative to the wealth of the individual. * a. Cost allocation b. Ability to pay c. Benefit received d. Lifeblood doctrine
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 1MCQ: The definition of gross income in the tax law is: All items specifically listed as income in the tax...
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1. The following defines taxation , except: *
a. It is an inherent power of the state.
b. It is an executive prerogative.
c. It is a process of collecting contributions.
d.It is a mode of allocating government costs or burden to the people.
2. It is an economic principle that states that the amount of tax an individual pays should be dependent on the level of burden the tax will create relative to the wealth of the individual. *
a. Cost allocation
b. Ability to pay
c. Benefit received
d. Lifeblood doctrine
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