Which of the Following Is a Unit Excise Tax

question 22

Multiple Choice

Which of the following is a unit excise tax?

• A)A tax of 15%
• B)An ad valorem tax of $3.00 per $100 of value
• C)An income tax of $3.00 per $100 of income earned
• D)An admission fee of $2.00 on each ticket purchased

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Definitions:

Income From Operations

Earnings generated from a company's regular business activities, excluding revenues and expenses from non-operating activities.

Sales

The total revenue generated from goods or services sold by a company during a specific period, indicating the primary source of business income.

Cost Of Goods Sold

Direct spending on materials and labor required to produce the merchandise a company sells.

Operating Expenses

The costs associated with the day-to-day activities of a business, excluding costs directly tied to the production of goods or services, such as rent, utilities, and salaries.