Enterprise Funds and Internal Service Funds Are Part of the Larger

question 52

True/False

Enterprise Funds and Internal Service Funds are part of the larger category of Proprietary Funds.

---

Definitions:

Tax Burden

The total amount of taxes that individuals, businesses, or other entities are required to pay, often expressed as a percentage of income or GDP.

Direct Taxes

Taxes that are paid directly to the government by the taxpayer, such as income tax and property tax.

GDP

Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a country during a specific time period, used as an indicator of economic health.

Average Tax Rate

The fraction of total income that is paid in taxes, calculated by dividing the total tax paid by the total income.