State and Local Governments Generate Revenue from All of the Following

question 37

Multiple Choice

State and local governments generate revenue from all of the following sources except

• A)sales taxes.
• B)the federal government.
• C)corporate income taxes.
• D)customs duties.

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Definitions:

Minimum Bid

The lowest price that a seller is willing to accept for an item being sold at auction.

Net Working Capital

The variance between an organization's immediate assets and its short-term obligations, reflecting its short-term fiscal well-being.

Straight-Line Depreciation

A method of evenly distributing the cost of a tangible asset over its useful life, resulting in a fixed annual depreciation expense.

Required Rate Of Return

The minimum annual percentage earned by an investment that will induce individuals or companies to put money into a particular project or investment.