You Can Make Investments on a ________ Basis,which Means That

question 140

Multiple Choice

You can make investments on a ________ basis,which means that not only does your investment grow free of taxes,but the money you invest isn't taxed until you liquidate your investment.

• A)tax-eliminated
• B)progressive tax
• C)tax-deferred
• D)asset management

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Definitions:

Gross Income

The total revenue received before any deductions or allowances, typically in the context of business revenues or individual wages before taxes.

Deductions

Amounts subtracted from gross income to reduce taxable income, including certain expenses, contributions, and allowances.

Sales Tax

A tax imposed by a government on the sale of goods and services, usually calculated as a percentage of the sales price.

Excise Tax

A tax imposed on specific goods, services, or transactions, often included in the price of the product, like fuel, tobacco, and alcohol.