Which One of the Following Is Not a Type of Excise

question 51

Multiple Choice

Which one of the following is not a type of excise tax?

• A)A tax on retail sales of products and commodities
• B)A tax on facilities and services
• C)A tax on income from professional services of physicians, dentists, lawyers, and accountants
• D)Occupational taxes
• E)Manufacturers' taxes

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Definitions:

Double-Declining-Balance

A method of accelerated depreciation which doubles the regular depreciation amount.

Capitalize Development Costs

The accounting practice of adding the costs associated with developing a new product or service to the balance sheet as an asset, rather than expensing them.

Research Costs

Expenses related to the investigation and discovery of new knowledge that could be useful for the development of new products or services.

Units-Of-Production Method

A depreciation method that allocates an asset’s cost based on its usage, productivity, or units produced, rather than the passage of time.