The Largest Single Source of Revenue for the Federal Government

question 216

Multiple Choice

The largest single source of revenue for the federal government is the

• A)corporate income tax.
• B)federal excise tax.
• C)personal income tax.
• D)Social Security tax.

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Definitions:

Cash Inflows

The money received by a business from its various sources during a specific period, such as sales revenue, investments, and financing.

Operating Costs

The expenses associated with the day-to-day functioning of a business, including salaries, utilities, and rent.

Useful Life

The expected period over which a fixed asset is anticipated to be usable by the company.

Limousine

A luxury vehicle driven by a chauffeur, often elongated in form, used for special occasions or services.