ACCT 224 DeVry Week 1 Quiz Latest

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ACCT 224 DeVry Week 1 Quiz Latest

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ACCT 224 DeVry Week 1 Quiz Latest

ACCT224

ACCT 224 DeVry Week 1 Quiz Latest

(TCO 1) A payment for the ownership of a tangible good is referred to as a(n):

  • excise tax
  • use tax
  • penalty charge

(General Feedback: Chapter 1, pages 4 – 10) Comments:

 

Question 2. Question : (TCO 1) Larimer County assesses a 4.5% tax on every sale of gasoline in the county. This is an example of:

  • use tax
  • activity-based tax
  • user’s fee
  • excise tax

(General Feedback: Chapter 1 , page 9) Comments:

 

Question 3. Question : (TCO 1) Annually, Jacob and Lillian pay a tax to the county based on the value of her home. This tax is best described as:

  • property taxes
  • transfer taxes
  • excise taxes
  • sales taxes

(General Feedback: Chapter 1, pages 4-10) Comments:

 

Question 4. Question : (TCO 1) The Internal Revenue Code of 1986 is an example of:

  • judicial authority
  • statutory authority
  • administrative authority
  • operational authority

(General Feedback: Chapter 1, pages 14-16) Comments:

 

Question 5. Question : (TCO 2) If a tax generates enough revenue to pay for public goods and services, it meets the standard that a good tax should be:

  • sufficient
  • convenient
  • efficient
  • fair

(General Feedback: Chapter 2, pages 22-30) Comments: