The Primary Source of Revenue for the Federal Government of the United

question 47

Multiple Choice

The primary source of revenue for the federal government of the United States are taxes tied to ________.

• A)property values
• B)rents and dividends
• C)export and import flows
• D)income

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Definitions:

Accounts Payable

Obligations or debts a company owes to its suppliers or vendors for products or services received.

Direct Method

A costing methodology that directly assigns specific costs to relevant objects without using allocation for indirect costs.

Cost Of Goods Sold

Costs directly related to the goods a company sells, covering both the materials' cost and the labor cost involved in making the product.

Balance Sheet Accounts

These are the accounts that reflect the financial position of a business at a specific point in time, including assets, liabilities, and equity.