Which of the Following Is NOT One of the Main

question 156

Multiple Choice

Which of the following is NOT one of the main sources of tax revenue for the federal government?

• A) individual income tax
• B) Social Security and Medicare taxes
• C) sales tax
• D) corporate income tax

---

Definitions:

Risk Of Loss

The responsibility for the financial impact of damage, destruction, or disappearance of goods or property, assigned by law or by contract.

F.O.B. Boston

A term indicating that the seller is responsible for goods transportation and risk until the goods are loaded onto a ship in Boston.

Risk Of Loss

Legal term defining which party bears the financial responsibility for damage, destruction, or loss of property, particularly in transactions of goods.

FOB Seattle

A shipping term indicating that the seller's responsibility ends when the goods are placed on board a ship at the Seattle port; the buyer is responsible for freight and risks from that point.