PA 581 Quiz Week 6 Keller

PA 581 Quiz Week 6 Keller

PA 581 Quiz Week 6 Keller

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PA 581 Quiz Week 6 Keller
PA 581 Quiz Week 6 Governmental Budgeting and Finance Keller
(TCO D) A residence in Brevard County has an assessed value of $150,000. Its owner qualifies for an old age exemption of $10,000 and a homestead exemption of $20,000. The property tax rate is $5 per $100 AV. What will be the property tax bill on this property?
$7,500
$7,000
$6,500
$6,000
(TCO E) The Federal government taxes consumption mainly through:
General retail sales taxes.
Value added taxes (VAT).
Selective excise taxes.
Payroll taxes.
(TCO E) With reference to tax systems, the principle ofcollectability asserts that:
A tax must be collected at a reasonable cost to society.
A tax must be collected by the government agency which imposed the tax.
A tax must be collected within 90 days of its imposition.
A tax must be paid by cash, check, money order, or electronic transfer.
(TCO E) Which of the following pieces of evidence would by itself allow a judgment about the regressivity or progressivity of a tax? (4 points)
High-income families have higher tax bills than do low-income families.
The richest 5 percent of the population pay 30 percent of the total tax collected.
Per-capita tax payments by rich families are higher than per-capita tax payments by poor families.
Low-income families pay out a higher proportion of their income in the form of tax than do high-income families.
(TCO G) Line-Item budgets:
Link specific outcome measures to requests for funds.
Do not focus on measurable activities.
Classify the budget by goals and objectives such as “protection of persons” or “improved transportation.”
Classify the budget in terms of objects of expenditure.
(TCO G) Program Budgets:
Link specific outcome measures to requests for funds.
Do not focus on measurable activities.
Classify the budget by goals and objectives such as...

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