Sales Taxes Are

question 40

Multiple Choice

Sales taxes are

• A) assessed on the prices paid on a large set of goods and services.
• B) levied on purchases of a particular good or service.
• C) based on each individual taxpayer's income level.
• D) collected only by the U.S. government.

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Definitions:

Marketable Money

Money or financial instruments that can be easily converted to cash without significant loss in value.

Market Security

A financial instrument such as stocks, bonds, or any tradable financial asset that is bought and sold in a financial market.

T-Bill

Short-term debt obligations issued by the U.S. Treasury with maturities of one year or less, serving as a low-risk investment.

Maturity

The date on which the principal amount of a financial instrument becomes due and is repaid to the investor.