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  • ACCY 450 Quiz 1, Taxes and Taxing Jurisdictions

ACCY 450 Quiz 1, Taxes and Taxing Jurisdictions

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ACCY 450 Quiz 1, Taxes and Taxing Jurisdictions Chapter 1 Types of Taxes and the Jurisdictions That Use Them True/False 1. Payment of a tax entitles the payer to a specific good or service from the government. Answer: False (Easy; LO 1) 2. A user fee entitles the payer to a specific good or service from the government. Answer: True (Easy; LO 1) 3. A tax is intended to deter or punish unacceptable behavior. Answer: False (Easy; LO 1) 4. A tax is a payment to support the cost of government. Answer: True (Easy; LO 1) 5. Under U.S. tax law, corporations are entities separate and distinct from their shareholders. Answer: True (Easy; LO 1) 6. The person who pays a tax directly to the government always bears the economic incidence of the tax. Answer: False (Medium; LO 1) 7. In some cases, the payer of a tax can shift the economic incidence of the tax to a third party. Answer: True (Easy; LO 1) 8. The U.S. government has jurisdiction to tax individuals who are not U.S. citizens but who are permanent U.S. residents. Answer: True (Medium; LO 1)

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Abigael

Abbie

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  • Released

    23 February 2023

  • Updated

    23 February 2023

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    Exam

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    questions and answers

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    ACCY 450 Quiz 1 Taxes and Taxing Jurisdictions

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