Which of the Following Is Not One of the New

question 137

Multiple Choice

Which of the following is not one of the new taxes imposed under the PPACA?

• A)2.9 percent excise tax on medical devices
• B)10 percent tax on indoor tanning
• C)3.8 percent tax on "junk food"
• D)40 percent tax on employers providing insurance to employees in excess of $10,200 per year for individuals or $27,500 per year for families.

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Definitions:

Net Income

A company’s remaining income after total revenue has had taxes, expenses, and costs deducted from it.

Equity Securities

Financial instruments representing ownership interest in a company, such as stocks, which may provide income through dividends.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, but not control them entirely, typically associated with ownership of 20% to 50% of voting stock.

Held-to-maturity Debt Securities

Investments in bonds or other debt securities that a company intends and is able to hold until they mature.