McGraw Hill’s Taxation of Individuals and Business Entities 2022 Edition 13th Edition by Brian Spilk

alternative tax systems.
Horizontal equity is defined in terms of taxpayers in similar situations whereas vertical equity is defined in terms of taxpayers in different situations.
True
False
References
True / False Difficulty: 1 Easy Learning Objective: 01-05 Apply appropriate criteria to evaluate
alternative tax systems.
Regressive tax rate structures are typically considered to be vertically equitable.
True
False
References
True / False Difficulty: 2 Medium Learning Objective: 01-05 Apply appropriate criteria to evaluate
alternative tax systems.
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 38.
Award: 1.00 point
 39.
Award: 1.00 point
 40.
Award: 1.00 point
Estimated tax payments are one way the federal income tax system addresses the "certainty" criterion in evaluating tax systems.
True
False
References
True / False Difficulty: 2 Medium Learning Objective: 01-05 Apply appropriate criteria to evaluate
alternative tax systems.
One must consider the "economy" criterion in evaluating tax systems from both the taxpayer's and the government's perspective.
True
False
References
True / False Difficulty: 2 Medium Learning Objective: 01-05 Apply appropriate criteria to evaluate
alternative tax systems.
Taxes influence which of the following decisions?
Business decisions
Personal decisions
Political decisions
Investment decisions
All of the choices are correct.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-01 Demonstrate how taxes influence basic
business, investment, personal, and political decisions.
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 41.
Award: 1.00 point
 42.
Award: 1.00 point
 43.
Award: 1.00 point
Margaret was issued a $150 speeding ticket. This is:
a tax because payment is required by law.
a tax because the payment is not related to any specific benefit received from the government agency collecting the ticket.
not a tax because it is considered a fine intended to punish illegal behavior.
a tax because it is imposed by a government agency.
not a tax because Margaret could have avoided payment if she did not speed.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-02 Discuss what constitutes a tax and the
general objectives of taxation.
Which of the following is a tax?
I. A 1 percent special sales tax for funding local road construction.
II. A fee paid to the state for a license to practice as an attorney.
III. An income tax imposed by Philadelphia on persons working within the city limits.
IV. A special property assessment for installing a new water system in the taxpayer's neighborhood.
Only I is correct.
Only IV is correct.
Only III is correct.
III and IV are correct.
I and III are correct.
A tax is a payment required by a government that is unrelated to any specific benefit or service received from the government.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-02 Discuss what constitutes a tax and the
general objectives of taxation.
Which of the following is considered a tax?
Tolls
Parking meter fees
Annual licensing fees
A local surcharge paid on retail sales to fund public schools
Entrance fees paid at national parks
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-02 Discuss what constitutes a tax and the
general objectives of taxation.