Which of the Following Is an Example of Something That

question 131

Multiple Choice

Which of the following is an example of something that contains an excise tax?

• A) property
• B) income
• C) clothing made and sold in Oregon (where the sales tax rate is 0%)
• D) clothing imported from China and sold in Oregon
• E) tobacco products

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Definitions:

Emergency Needs

Financial requirements that arise unexpectedly and require immediate attention, often relating to health, home repairs, or urgent personal matters.

Chattel Mortgage

A loan arrangement in which personal movable property is used as security for the loan, and the lender holds a mortgage over the chattel.

Trust Receipts

Documents that acknowledge the receipt of goods that are held in trust for the lender until the loan associated with the goods is paid.

Blanket Lien

A type of lien that gives the creditor the rights to seize nearly all types of assets and property of the debtor in the event of default.