The Third Largest Source of Government Tax Revenues That Contributes

question 88

Multiple Choice

The third largest source of government tax revenues that contributes roughly 10 percent to total revenues is:

• A) payroll tax.
• B) personal income tax.
• C) corporate income tax.
• D) excise tax.

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Definitions:

Cost Estimates

A predictive calculation of the anticipated expenses for a project or production, used for budgeting and planning purposes.

Marginal Cost

The cost of producing one additional unit of a product or service.

Relevant Range

The range of activity or volume in which the assumptions about fixed costs and variable costs are valid.

Variable Cost

Costs that fluctuate with the level of output, such as materials and labor directly involved in production.