The Largest Source of Federal Government Revenue Is

question 104

Multiple Choice

The largest source of federal government revenue is

• A)corporate income taxes
• B)individual income taxes
• C)payroll taxes
• D)sales and excise taxes
• E)tariffs on imported goods and other customs fees and duties

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Definitions:

Current Ratio

An indicator of a company's ability to meet short-term debt obligations; calculated by dividing current assets by current liabilities.

Fixed Assets

Fixed assets are long-term tangible assets that are used in the operations of a business and are not expected to be consumed or converted into cash within a year.

Inventory Turns

A measure of how quickly inventory is sold and replaced over a period, indicating the efficiency of inventory management.

Gross Margin

The difference between revenue and cost of goods sold, divided by revenue, expressed as a percentage.