According to the Horizontal-Equity Principle of Taxation

question 238

Multiple Choice

According to the horizontal-equity principle of taxation,

• A)individuals who receive the benefits of a good or service should bear a greater share of the tax burden.
• B)individuals who are most able to pay should bear a greater share of the tax burden.
• C)people in the same economic situation should be treated equally.
• D)individuals who are willing to bear a greater share of the tax burden should be compensated with non-monetary benefits.

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Definitions:

Financing Statements

Legal documents filed to indicate a security interest in personal property, used to perfect a lender's claim against borrowers' assets.

Secured Interest

A legal claim or lien on collateral that has been pledged by a borrower to secure payment of a debt.

Notation

A system of symbols or marks used for representing information, especially in mathematical or musical contexts.

Financing Statement

A document filed to give public notice of a secured party's interest in the debtor's personal property, used in the U.S. under the Uniform Commercial Code.