Which of the Following Correctly Depicts the Changes in the Sources

question 24

Multiple Choice

Which of the following correctly depicts the changes in the sources of federal,state,and local receipts in the past 50 years?

• A) Income taxes are now a larger share of federal receipts.
• B) Property taxes are now a larger share of state and local receipts.
• C) Corporate and excise taxes are now a smaller share of federal receipts.
• D) Sales taxes constitute the exact same share of state and local receipts.

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Definitions:

Units Transferred Out

The completed units moved out of a production process or cost center to the next process, or finished goods inventory, during a period.

August

The Gregorian calendar's eighth month.

Weighted-Average Method

A costing method that calculates the cost per unit by dividing the total cost by the total number of units produced, treating all units as equal regardless of when they were actually manufactured.

Assembly Department

A division in a manufacturing plant where components are joined together to form a finished product.