________ and ________ Are the Largest Sources of Revenue Collected

question 221

Multiple Choice

________ and ________ are the largest sources of revenue collected by the federal government.

• A)Individual income taxes; corporate income taxes
• B)Individual income taxes; social insurance taxes
• C)Corporate income taxes; excise and other taxes
• D)Excise and other taxes; individual income taxes

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Definitions:

Freight Costs

Expenses associated with transporting goods from one place to another.

September

Refers to the ninth month of the year in the Gregorian calendar.

Inventory Cost

The total cost associated with buying or producing goods, including purchase price, materials, labor, and overhead, until they are sold.

Sales

The activities involved in selling goods or services to customers, including the negotiation of sales agreements and the collection of revenue.