What Is the Tax That Generates the Most Revenue for Provincial

question 89

Multiple Choice

What is the tax that generates the most revenue for provincial and local governments

• A)corporate income tax
• B)personal income tax
• C)property tax
• D)excise tax

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Definitions:

Cash and Cash Equivalents

Liquid assets that include currency, checks, and short-term investments that can be quickly converted to cash.

Net Income

Net income is the total profit remaining after all expenses, taxes, and costs have been subtracted from total revenues.

Equity

The value of an owner's interest in a property or business, calculated as the difference between the assets and liabilities.

Cash Flow on Total Assets

A measure of the efficiency with which a company generates cash from its assets, calculated as cash flow from operations divided by total assets.