Which of the Following Statements Is Not Correct

question 180

Multiple Choice

Which of the following statements is not correct?

• A) A gasoline tax can be an example of a benefits tax.
• B) A progressive tax attempts to achieve vertical equity.
• C) A progressive tax can be an example of the ability-to-pay principle.
• D) A regressive tax attempts to achieve horizontal equity.

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Definitions:

Contract Negotiating Procedures

The systematic steps and methods used during the process of reaching an agreement on contractual terms.

Auction With Reserve

A type of auction in which the seller reserves the right to accept or reject the highest bid.

Auction Without Reserve

An auction in which the item for sale will be sold regardless of the price, as there is no minimum bid or reserve price.

Open Price Term

In a contract, a provision that allows the price to be determined later based on agreed criteria or market conditions.