Which of the Following Statements Is Incorrect

question 95

Multiple Choice

Which of the following statements is incorrect?

• A)Property taxes are levied on real estate.
• B)Excise taxes are assessed on items such as gasoline and telephone use.
• C)Gift taxes are imposed on the recipient of a gift.
• D)The estate tax is based on the fair market value of property at death or the alternate valuation date.

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Definitions:

Moratorium

An adolescent’s choice of a socially acceptable way to postpone making identity-achievement decisions. Going to college is a common example.

Multiple Perspectives

The consideration of different viewpoints, interpretations, or approaches towards understanding a particular situation or problem.

Firm Identity

The unique characteristics, values, and beliefs that define a business and distinguish it from its competitors.

Diverse Array

A wide and varied selection of items, people, or concepts differing in many aspects.