For a Tax System to Achieve Equity,it Must First Achieve

question 142

True/False

For a tax system to achieve equity,it must first achieve efficiency.

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Definitions:

Capital Gain/Loss

The increase (gain) or decrease (loss) in the value of an investment or property from its purchase price.

Depreciation Life

The estimated period over which a tangible asset is expected to be used in business operations, for the purpose of calculating depreciation.

Straight Line

A method of depreciation that allocates an asset’s cost evenly throughout its useful life.

Ice Cream Machine

A device designed to produce ice cream on a commercial or domestic scale by freezing and churning ingredients.