The Main Source of Revenue for Local Governments Is _____

question 205

Multiple Choice

The main source of revenue for local governments is _____

• A) property taxes.
• B) income and sales taxes.
• C) individual income taxes.
• D) corporate taxes.
• E) foreign taxes.

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Definitions:

Red Herring

In financial contexts, a red herring is a preliminary prospectus filed by a company with the SEC, usually in connection with an initial public offering, containing important information but lacking details on price and offering size.

Prospectus

A formal document that companies and mutual funds use to describe the investment offering to potential investors, providing details such as objectives, risks, and financials.

SEC

The U.S. Securities and Exchange Commission, a federal agency tasked with protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation.

Initial Public Offerings

Initial public offerings (IPOs) refer to the process by which a private company becomes publicly traded by offering its shares to the public for the first time.