ECO440 Tma Solutions
1. Tax assignment refers to who should ________ tax.
—>> collect
pay
give
receive
2. The criteria used for constructing a good tax structure are called ________ of taxation.
—>> principles
laws
stages
levels
3. Excise duties are not important source of government revenue in developing countries because the _________ sector are still minute.
private
—>> manufacturing
public
agricultural
4. _________ principle explains that tax should be paid in accordance with benefits each receive from expenditure programmes to be financed by tax revenues by the governments.
equity
ability to pay
—>> quid pro quo
all of the above
5. Another type of indirect tax is _______ tax.
sale
single-stage
—>> samptuary
multi-stage
6. Personal income tax has the potential of increasing revenue conforms with the accepted ________ of equity.
—>> standard
level
degree
percentage
7. Direct taxes are imposed on income whose burden cannot be _______
changed
ignored
—>> shifted
reversed
8. Tax is a compulsory contribution from a person to the government to defray the expenses incurred in the common interests of all without reference to _______ conferred
social benefits
cost-benefits
private benefits
—>> special benefits
9. Direct taxes are imposed on income or _______ of a person.
—>> wealth
revenue
money
expenditure
10. There are two types of equity vis horizontal equity and _______ equity.
parallel
straight
portrait
—>> vertical
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