All of the Following Are True About the Revenue Act

question 71

Multiple Choice

All of the following are true about the Revenue Act of 1766 except that

• A)it reduced the duty on molasses.
• B)it was clearly a revenue measure.
• C)it generated more income for the empire than any other colonial tax.
• D)it applied only to foreign molasses imported into the mainland.
• E)few colonists attacked it for violating the principle of no taxation without representation.

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Definitions:

Option

A financial derivative that represents a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified strike price on or before a specified date.

Employee Stock Options

A right, purchased from one party by another, granting the purchaser the option, but not the requirement, to either buy (call) or sell (put) a share at a pre-decided price during a specific timeframe or on a certain date.

Align Goals

The process of adjusting strategies or actions to ensure that various objectives or aims are in harmony or agreement.