According to the Benefits-Received Principle, Those Who Receive the Benefits

question 107

True/False

According to the benefits-received principle, those who receive the benefits from a government program should pay the taxes that support the program.

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Definitions:

Negotiability

The attribute of a financial instrument allowing it to be transferred or assigned from one party to another.

Requirements of Negotiability

Legal criteria that an instrument must meet to be considered negotiable, allowing it to be transferred from one party to another.

Certificate of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate that is issued by a bank and is insured by the Federal Deposit Insurance Corporation (FDIC).

Promissory Note

A written promise to pay a specified amount of money to a designated person or entity by a certain date or on demand.