Asked by
Angelica Ferrer
on Oct 13, 2024Verified
Each of the following is a direct tax except the
A) personal income tax.
B) excise tax.
C) payroll tax.
D) corporate income tax.
Direct Tax
Tax on a particular person. Most important are federal personal income tax and payroll (Social Security) tax.
Excise Tax
A tax imposed on specific goods, services, or transactions, often included in the price of products like gasoline, alcohol, and tobacco, aimed at reducing their consumption or raising revenue.
- Comprehend the function of transfer payments and public expenditure within national economic frameworks.
Verified Answer
CE
Learning Objectives
- Comprehend the function of transfer payments and public expenditure within national economic frameworks.