Sales taxes, property taxes, income taxes, and fees of various kinds: a) provide revenue for...
Question:
Sales taxes, property taxes, income taxes, and fees of various kinds:
a) provide revenue for spending by state and local government.
b) are the least used types of revenue generation used by the state government.
c) fund government spending at the federal levels.
d) are examples of implicit liabilities.
Government Activities:
The primary activities of a local or state government are funded through taxes imposed on its residents. These revenues and the expenditures funded by it are reported in the governmental funds of the government unit.
Answer and Explanation: 1
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