The Second Largest Source of Tax Revenue for the Federal

question 146

Multiple Choice

The second largest source of tax revenue for the federal government is

• A)payroll taxes
• B)the personal income tax
• C)the corporate income tax
• D)excise taxes
• E)the sales tax

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Definitions:

Illusory

Pertaining to something that seems real or possible but proves to be false or unattainable.

Conditional Promise

A pledge to do or not do something that is contingent upon a certain event occurring or a condition being met.

Pre-Existing Duty

An obligation that a party is already legally obliged to perform, which is not considered sufficient to serve as consideration for a new contract.

Legal Sufficiency

The adequacy of evidence in meeting legal standards to support a finding or conclusion in a legal proceeding.