Which of the Following Is the Best Example of an Excise

question 34

Multiple Choice

Which of the following is the best example of an excise tax?

• A) A tax on all capital gains (the amount by which the value of an asset has risen between the time it was purchased and the time it was sold)
• B) A tax paid by employers on income paid to workers
• C) A tax collected on each gallon of gasoline sold
• D) A tax that is levied on the value of land and buildings

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Definitions:

Functional Departments

Organizational units within a company, built around specific tasks, areas of expertise, or operations, such as marketing, finance, or human resources.

Ethics Competency

The ability to understand and apply ethical principles and values to professional conduct and decision-making.

Enron

An American energy company based in Houston, Texas, that became infamous for its complex financial fraud leading to its bankruptcy in 2001.

Top Management

The highest level of executives and decision-makers in an organization who are responsible for determining strategy, direction, and policies.