The Main Source of Revenue for Local Governments Is _____

question 205

Multiple Choice

The main source of revenue for local governments is _____

• A) property taxes.
• B) income and sales taxes.
• C) individual income taxes.
• D) corporate taxes.
• E) foreign taxes.

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Definitions:

Warranty

A guarantee provided by a manufacturer or seller regarding the condition of a product and a promise of repair or replacement if the product does not meet specified criteria.

Government Bonds

Debt securities issued by a government to finance its expenditures, offering a fixed or variable interest rate over time.

Private Company

A business entity owned by private individuals or entities, not publicly traded on the stock market, and not subject to the same reporting requirements as a public company.

Merchantable Quality

A standard that ensures goods are of a quality that is acceptable for sale and fit for the purpose for which they are bought.