-Why Did the Confederation Congress Have Trouble Meeting Its Financial

question 48

Multiple Choice

-Why did the Confederation Congress have trouble meeting its financial obligations needed to fund government business?

• A) It did not have the power to levy taxes.
• B) It could not print currency.
• C) It had no authority to make laws.
• D) It was dominated by poorly educated representatives.

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Definitions:

State Tax

A tax imposed by a state on earned income, business profits, property, sales, etc., that varies from state to state.

Itemized Deduction

Expenses listed separately that can be deducted from adjusted gross income to reduce taxable income, including medical expenses, taxes paid, interest, charitable contributions, and certain job-related expenses.

Constructive Receipt

This refers to the point at which an individual has access to, or control over, income, thus making it taxable, even if the income has not been physically received.

Compensation

Payment or salary received for services rendered or work done.