A 'Schedule' to an Act of Parliament Is

question 6

Multiple Choice

A 'schedule' to an Act of Parliament is:

• A)a term used to refer to the body of an Act that contains the substantive provisions of the Act.
• B)a list of definitions usually found at the beginning of legislation.
• C)a subsidiary piece of legislation, separate to the principal Act and usually containing administrative provisions concerning the application of the principal Act.
• D)a supplement appended to an Act and usually containing procedural provisions such as fees and charges, forms, technical descriptions and lists.

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable.

Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.

Deadweight Loss

The loss of economic efficiency when the equilibrium in a market is not achieved or is unachievable, leading to a potential loss of social welfare.

Excise Tax

A tax charged on specific goods and services, such as tobacco, alcohol, and gasoline.