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BML Final Set 4
Test Description: BML Final Set 4
Instructions: Answer all questions to get your test result.
1) Sales taxes are collected by
A
the government directly.
B
the seller.
C
Barack Obama.
D
the buyer.
2) Sales taxes are based on
A
the amount of money you make.
B
the value of the good or service being purchased.
C
the amount of money the government needs at the moment.
D
the value of real property you own.
3) Property taxes primarily fund
A
the military.
B
foreign aid.
C
social programs.
D
public schools.
4) Property taxes are based on
A
the amount of money you make.
B
the value of the good or service being purchased.
C
the value of real property you own.
D
the amount of money the government needs at the moment.
5) The federal government's largest single source of income is
A
payroll taxes.
B
personal income taxes.
C
tariffs.
D
corporate income taxes.
6) Which of these is a nonrenewable resource?
A
lumber
B
oil
C
paper
D
wind energy
7) Which of these is a renewable resource?
A
gold
B
solar energy
C
coal
D
gasoline
8) Who is the largest employer in the United States?
A
Wal-Mart
B
government
C
McDonald's
D
General Motors
9) Legally enforceable contracts require
A
offer, acceptance, consideration, and must be for something legally able to be sold or exchanged.
B
a written confirmation of the deal.
C
all of these.
D
signatures of all parties involved.
10) When discussing contracts, the term 'consideration' is
A
wording that is kind and unobjectionable to all parties.
B
the requirement that each party must take into account the needs of the other party.
C
something of measurable value that must be exchanged by the parties involved.
D
none of these.
*select an answer for all questions
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