Which of the Following Are Sources of Revenue for State

question 102

Multiple Choice

Which of the following are sources of revenue for state and local governments?
i.property taxes
ii.sales taxes
iii.transfers from the federal government

• A) i and ii
• B) ii and iii
• C) i and iii
• D) i, ii and iii
• E) i only

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Definitions:

Direct Materials

Parts and raw materials of a product.

Variable Overhead

Costs that fluctuate with production levels, such as utilities or materials used in the manufacturing process.

Variable Costing

An accounting method that includes only variable manufacturing costs - direct materials, direct labor, and variable manufacturing overheads - in product costs.