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Basic Principles of Taxation

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10 questions

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  • Multiple Choice
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    20 seconds
    1 pt

    The process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government

    Taxes

    Taxation

    Assessment

    Levy

  • Multiple Choice
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    20 seconds
    1 pt

    The following are the theory and basis of taxation, EXCEPT

    Lifeblood theory

    Necessity theory

    Benefits-received principle

    Jurisdiction over subject and object

    Ability to pay principle

  • Fill in the Blank
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    45 seconds
    1 pt

    The basic purpose of taxation is to raise _________.

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