_____ taxes are paid on the purchase of most consumption goods.

A) Income
B) Property
C) Sales
D) Wealth

Question

_____ taxes are paid on the purchase of most consumption goods.A) IncomeB) PropertyC) SalesD) Wealth

Sarah Marie · Accepted Answer

Final Answer : C, Explanation :  Sales taxes are imposed on the sale or lease of goods and services by the governing authority of the jurisdiction in which the sale takes place. It's typically calculated as a percentage of the purchase price and is paid by the buyers. Income taxes are paid on income earned from wages, investments, etc. Property taxes are assessed on real estate and other personal property. Wealth taxes are levied on a person's net worth or assets.

_____ taxes are paid on the purchase of most consumption goods.

A) Income
B) Property
C) Sales
D) Wealth

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Learning Objectives

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