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21. It is a demand of proprietorship, is paid for the use of another's property and may be imposed by the government or private individuals or entities. a. Toll b. Fee C. Excise d. Special assessment

21. It is a demand of proprietorship, is paid for the use of another's property and may be imposed by the government or private individuals or entities. a. Toll b. Fee C. Excise d. Special assessment

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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21. It is a demand of proprietorship, is paid for the use of another's property and may be imposed by the government or private individuals or entities. a. Toll b. Fee с. Еxcise d. Special assessment 22. It is any sanction imposed as a punishment for violation of law or acts deemed injurious. a. Tax b. Fine c. Penalty d. Special assessment 23. Violation of tax laws may give rise to imposition of this kind. a. Tax b. Fine c. Penalty d. Special assessment 24. It is an enforced proportional contribution from owners of lands for special benefits resulting from public improvements. a. Toll b. Fine c. Penalty d. Special assessment 25. It is a charge imposed under the police power for purposes of regulation. a. Permit or license fee b. Local tax c. Penalty d. Customs duties
Transcribed Image Text:21. It is a demand of proprietorship, is paid for the use of another's property and may be imposed by the government or private individuals or entities. a. Toll b. Fee с. Еxcise d. Special assessment 22. It is any sanction imposed as a punishment for violation of law or acts deemed injurious. a. Tax b. Fine c. Penalty d. Special assessment 23. Violation of tax laws may give rise to imposition of this kind. a. Tax b. Fine c. Penalty d. Special assessment 24. It is an enforced proportional contribution from owners of lands for special benefits resulting from public improvements. a. Toll b. Fine c. Penalty d. Special assessment 25. It is a charge imposed under the police power for purposes of regulation. a. Permit or license fee b. Local tax c. Penalty d. Customs duties
26. It is imposed for regulation and involves the exercise of police power. a. Permit or license fee b. Local tax c. Penalty d. Customs duties 27. Failure to pay the license fee makes an act or a business illegal. This is in keeping with the State's power: a. Police power b. Power of eminent domain с. Тахation d. Military power 28. The power of eminent domain is also known as: a. Appropriation b. Expropriation c. Impropriation d. Allocation 29. The determination of the imposition of tax is based on a physical unit of measurement, as by head or number, weight, or length or volume. a. Specific tax b. Ad valorem tax c. Excise tax d. Customs duties 30. The individual income tax is a manifestation of this system of taxation: a. Мixed b. Proportional c. Progressive d. Regressive
Transcribed Image Text:26. It is imposed for regulation and involves the exercise of police power. a. Permit or license fee b. Local tax c. Penalty d. Customs duties 27. Failure to pay the license fee makes an act or a business illegal. This is in keeping with the State's power: a. Police power b. Power of eminent domain с. Тахation d. Military power 28. The power of eminent domain is also known as: a. Appropriation b. Expropriation c. Impropriation d. Allocation 29. The determination of the imposition of tax is based on a physical unit of measurement, as by head or number, weight, or length or volume. a. Specific tax b. Ad valorem tax c. Excise tax d. Customs duties 30. The individual income tax is a manifestation of this system of taxation: a. Мixed b. Proportional c. Progressive d. Regressive
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