All of the Following Statements Are True Except

question 56

Multiple Choice

All of the following statements are true except

• A)total revenues have no strong trends.
• B)revenues include corporate income taxes, personal income taxes;indirect taxes and investment income.
• C)the main source of fluctuations in revenues is corporate income taxes.
• D)indirect taxes decreased during the 1990s due to the introduction of the GST.
• E)total revenues increased through the 1960s and 1980s.

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Definitions:

Legal Entity

An organization or business that is recognized by law as having a distinct legal existence, separate from its owners.

Consolidation

The process of combining financial statements from several departments or subsidiaries into a unified set.

Merger

The combination of two or more companies into a single entity, where one survives and the others cease to exist as separate entities.

Synergy

A situation in which two companies operating together under one ownership perform better than the sum of their separate performances. A popular reason claimed for mergers.