The Code's Classifications of Collateral According to Nature Are

question 67

True/False

The Code's classifications of collateral according to nature are:
(a) goods;
(b) tangibles; and
(c) dispensable paper.

---

Definitions:

Excise Tax

An excise tax is a tax charged on specific goods and services, such as gasoline, cigarettes, and alcohol, typically to discourage their use or generate revenue.

Benefits Principle

A taxation theory that suggests taxes should be levied according to the benefits received by the taxpayer from government services.

Ability-To-Pay Principle

This principle suggests that individuals should be taxed based on their ability to pay, regardless of the benefits they receive.

Equity Principle

A concept in finance that emphasizes fair distribution of wealth and assets, ensuring that financial transactions are conducted fairly and equitably.