Which of the Following Items Is NOT a Need

question 48

Multiple Choice

Which of the following items is NOT a need?

• A) water
• B) achievement
• C) sleep
• D) money

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Definitions:

Tax Base

The Tax Base is the total amount of assets, income, or other taxable items upon which a government levies taxes.

Tax Liability

The total amount of tax owed by an individual or a corporate entity to tax authorities.

Tax Rate Structure

The way tax rates progress from low to high based on income brackets, affecting how much tax individuals or entities owe.

Progressive

Referring to a tax system in which the tax rate increases as the taxable amount increases.