Examlex

Solved

Which of the Following Statements Is Correct

question 36

Multiple Choice

Which of the following statements is correct?


Definitions:

Lump-Sum Tax

A tax that is the same for everyone, regardless of any actions people take.

Ability-To-Pay Principle

A taxation principle suggesting that taxes should be levied according to an individual's or entity's capability to bear the tax burden.

Tax Revenue

The income gained by governments through taxation.

Income Taxes

Taxes levied by governments on individuals or entities' income, affecting the amount of money they retain from earnings.

Related Questions