Which of the Following Made It Unlikely That Texas Will

question 9

Multiple Choice

Which of the following made it unlikely that Texas will enact a personal income tax in the near future?

• A) The Texas Constitution was amended in the 1990s to require that the voters approve of the creation of a state income tax, and that any money generated from it be used to support public education.
• B) The Texas Constitution explicitly prohibits a personal income tax, and does not include any provision for creating a personal income tax.
• C) The Texas Supreme Court ruled that the personal income tax that had been in place previously violated the Texas Constitution. Once a law has been declared unconstitutional by the Texas Supreme Court, it cannot be reintroduced.
• D) The creation of any new forms of revenue, including a personal income tax, would require the support of three-fourths of both chambers of the legislature. In the current partisan polarized environment, it is nearly impossible to reach this threshold.

Appreciate the benefits of budgeting within an organizational context.

Identify the sequence and interdependencies within the budget process.

Understand the financial planning around cash balances and the need for financing.

Recognize the importance of activity-based budgeting for resource planning.

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Definitions:

Expected Product

The outcome that is predicted to be formed when a chemical reaction goes to completion.

Reaction Structure

The detailed atomic arrangement and connectivity of the molecules involved in a chemical reaction, including bonds formed and broken.

Organic Product

A chemical compound primarily made of carbon atoms, formed as a result of organic reactions.

Reaction Structure

The detailed arrangement of atoms and bonds in the reactants and products of a chemical reaction.