Which of the Following Statements Is TRUE with Respect to Municipalities

question 44

Multiple Choice

Which of the following statements is TRUE with respect to municipalities?

• A)Most municipalities are created by the federal government,rather than by provincial governments.
• B)A municipality is created when a higher level of government passes a by-law.
• C)Cities are municipalities,but towns are not.
• D)Laws that are created by municipalities are called subordinate legislation.
• E)Some types of subordinate legislation have nothing to do with municipalities.

---

Definitions:

Expense

Expense refers to the outflow of money or other assets, incurred in the process of generating revenue, including costs like rent, salaries, and utilities.

Expenses

Costs incurred in the process of generating revenues, including operating costs, taxes, and interest payments.

Revenues

The total amount of money received by the company for goods sold or services provided during a certain time period.

Net Income

The amount of profit remaining after all expenses, taxes, and costs have been subtracted from total revenue.