One Difference Between Sales and Excise Taxes Is That

question 118

Multiple Choice

One difference between sales and excise taxes is that

• A) sales taxes are only applied at the state level, while excise taxes are only applied at the federal level.
• B) excise taxes apply to a wide range of products, while sales taxes apply only to a select list of products.
• C) sales taxes are calculated as a percentage of the price paid, while excise taxes are levied on a per-unit basis.
• D) excise taxes are calculated as a percentage of the price paid, while sales taxes are levied on a per-unit basis.

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Definitions:

Order Of Relief

An order from a bankruptcy court that temporarily or permanently relieves the debtor from certain debts or legal action by creditors.

Bankruptcy Can Continue

The process by which a debtor's assets are managed and liabilities are discharged under the bankruptcy code can proceed, despite certain obstacles or challenges.

Automatic Stay

a legal provision that temporarily halts lawsuits, foreclosures, garnishments, and all collection activities against a debtor the moment a bankruptcy petition is filed.

Order Of Relief

A court order in the context of bankruptcy proceedings that temporarily halts actions by creditors against the debtor.