Which of the Following Taxes Is the Largest Source of Government

question 78

Multiple Choice

Which of the following taxes is the largest source of government revenue?

• A) sales
• B) property
• C) individual income
• D) death

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Definitions:

General Ledger

A collection of a company's financial accounts, where transactions are recorded in separate accounts to maintain a comprehensive financial record.

Explanation Column

A column in accounting ledgers or financial reports where details are provided to explain the nature or reason for a transaction.

Computerized Accounting System

A software-based method that provides automatic bookkeeping and accounting for business transactions, improving accuracy and efficiency over manual methods.

Chart of Accounts

A listing of all the accounts in a general ledger that a business uses to code each of its transactions based on the nature of the expense, asset, liability, etc.