The ______ Principle Points Up a Number of General Obligations

question 83

Multiple Choice

The ______ principle points up a number of general obligations.

• A) Fairness
• B) Natural-duty
• C) Distributive-justice
• D) Liberty

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Definitions:

Direct Tax

Taxes paid directly to the government by the taxpayer, such as income tax.

Indirect Tax

A tax collected by an intermediary (like a retailer) from the person who bears the ultimate economic burden of the tax (like the consumer). Examples include sales tax and VAT (Value Added Tax).

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements that may or may not align with the calendar year.

Marginal Tax Rate

The tax rate applied to the last dollar of income earned.