Examlex
Which of the following statements about group accidental death and dismemberment (AD&D) insurance is (are) true?
I.The principal sum is paid if the employee dies in an accident.
II.A percentage of the principal sum is paid for certain types of dismemberments.
Excise Tax
A tax levied on the sale of particular goods or services, such as alcohol and tobacco, usually with the intent of reducing their consumption through higher prices.
Excise Tax
A specific tax levied on the sale of a particular good or service, often included in the price of items such as tobacco or alcohol.
Tax Rate
The percentage at which income or property is taxed by a government.
Pretax Equilibrium
The market equilibrium that occurs before any taxes are applied to goods or services, reflecting the balance between supply and demand without tax-induced price distortions.
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