The Main Source of Revenue of Federal Government Is

question 7

Multiple Choice

The main source of revenue of federal government is:

• A)property taxes
• B)token taxes
• C)customs duties
• D)sales tax

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Definitions:

Accounting Profit

The total revenue of a business minus its explicit costs; essentially the net income reported on the financial statements.

Economic Profit

The difference between the total revenue received by a business and the total costs, including both explicit and implicit costs.

Overhead

Ongoing business expenses not directly attributed to creating a product or service.

Accounting Profit

The total revenue of a business minus explicit costs, representing the monetary gain recorded in financial statements.