State and Local Governments Do Not Receive Income Directly from Which

question 115

Multiple Choice

State and local governments do not receive income directly from which source?

• A) Property taxes
• B) Sales taxes
• C) Social security taxes
• D) Local income taxes

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Definitions:

Assignee

The person or party to whom rights or interests have been transferred by another party, called the assignor.

Assignor

The party in an agreement who transfers rights or interests to another party, known as the assignee.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specified sum of money to the bearer or to the order of a specified person.

Statutory Assignment

The transfer of rights or benefits from one party to another as per the specifications and regulations of statutory laws.