The Power to Levy Taxes Is an Example of a __________

question 65

Multiple Choice

The power to levy taxes is an example of a __________ power.

• A)police
• B)socialist
• C)concurrent
• D)reserved

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Definitions:

Internal Control

Procedures and policies implemented by a company to safeguard its assets, ensure financial accuracy, and promote operational efficiency.

Canceled Checks

Checks that have been paid and processed by a bank, no longer negotiable, serving as proof of payment.

Negotiable

Capable of being transferred or exchanged with ease, often referring to financial instruments.

Internal Control System

Procedures and policies implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.