Which of the Following Statements Is False

question 63

Multiple Choice

Which of the following statements is false ?

• A) The largest source of state and local governments tax revenue is sales and excise taxes.
• B) The largest source of federal government tax revenue is individual income taxes.
• C) A sales tax on food is a regressive tax.
• D) A proportional tax is equal to a fixed dollar amount.

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Definitions:

Assigned Donees

Individuals or entities designated to receive specific gifts or donations.

Donee Beneficiary

In contract law, a third party who benefits from a contract between two other parties, particularly when the benefit was intended as a gift.

Promisee

The person to whom a promise or commitment is made, especially in the context of a contractual agreement.

Promisor

An individual or entity that makes a promise or agreement to perform a specified action in a contract.