A Five-Dollar Fine for a Parking Violation Is an Example

question 26

Multiple Choice

A five-dollar fine for a parking violation is an example of a

• A)criminal penalty.
• B)civil penalty.
• C)subsidy.
• D)tax expenditure.

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Definitions:

Import Duties

Taxes imposed by a country on goods brought into its territory from foreign countries to protect domestic industries from foreign competition.

Retrospectively

Looking back at past events or situations, often to reevaluate or analyze them with current knowledge.

Prospectively

Referring to or dealing with events in the future, often in the context of financial planning or forecasting.

Extraordinary Gain

A gain that arises from events or transactions that are distinct and infrequent in nature, not expected to recur regularly.