Another Term for Pollution Taxes Is ___________

question 25

Multiple Choice

Another term for pollution taxes is ___________. These are payments from one group, the polluters, to another group, the administering agency or beneficiary of the tax.

• A) transfer payments
• B) opportunity costs
• C) external costs
• D) enforcement costs

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Definitions:

FIFO Cost Flow

An inventory valuation method in which the costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Current Costs

These are the costs that are associated with the purchase or production of goods and services in the current period.

Current Revenues

Income recognized by a business within its fiscal year, typically from its main operations.

LIFO Cost

An inventory valuation method that assumes the last items placed in inventory are the first sold, implying newer inventory remains unsold.