What Is the Largest Single Source of Revenue for the Federal

question 72

Multiple Choice

What is the largest single source of revenue for the federal government?

• A)consumption taxes
• B)social security contributions
• C)income taxes
• D)tariff revenues

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Definitions:

Six Months

is a period of time equal to half a year, often used in financial and operational planning.

Asset Account

An account on a company's balance sheet that represents a resource controlled by the company from which future economic benefits are expected.

Debit Balance

Refers to the balance remaining on an account when the total of debits exceeds the total of credits, typically indicating expenses or assets.

Accounts Payable

Refers to short-term obligations or debts a company owes to its suppliers or creditors for goods and services received.