When a Tax Is Imposed on an Item, It Can

question 215

Multiple Choice

When a tax is imposed on an item, it can generally be said that the incidence of the tax is

• A)entirely on the buyer.
• B)entirely on the seller.
• C)on both the buyer and seller.
• D)not determined in this manner.

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Definitions:

Depositions

Formal, recorded testimonies of witnesses taken under oath outside of court, used in the discovery process before a trial.

Documentary Evidence

Materials like documents, records, or written correspondence used in legal proceedings to support facts or assertions.

Oral Examinations

A form of assessment where questions are asked and answered verbally, often used in academic and professional settings.

Arbitration

A form of alternative dispute resolution where an impartial third party, the arbitrator, resolves disputes between parties outside of court.