The Following Is Not a Characteristic of a Tax

question 9

Multiple Choice

The following is not a characteristic of a tax.

• A)it is a compulsory payment
• B)every tax involves a sacrifice by tax payer
• C)there is a quid-pro-quo between the tax payer and the government.
• D)refusal to pay tax is a punishable offence.

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Definitions:

Resource Consumption

The use of resources (such as raw materials, energy, or labor) by a process, project, or activity, typically measured to manage efficiency and costs.

Activity-based Costing

A costing methodology that assigns costs to products or services based on the resources they consume.

First-stage Allocation

The initial process of assigning indirect costs to relevant cost objects or activities, typically in a cost accounting system.

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing a more accurate picture of the cost to produce a product or service.