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Tax Test
Test Description: Tax test tax test
Instructions: Answer all questions to get your test result.
1) Who prepares the federal budget each year to present to Congress
A
The President
B
A council of governors
C
The Senate
D
Congressional Budget Office
2) Which describes an excise tax
A
A gift tax
B
A luxury tax
C
A payroll tax
D
An estate tax
3) What limit does the Constitution place on the amount of money the federal government may borrow each year.
A
$1 Trillion
B
The government is not allowed to borrow
C
$500 Billion
D
There is no limit
4) Which office is responsible for preparing a yearly report showing income and expenses?
A
Office of Management and Budget
B
Office of Income Security
C
Office of Policy Development
D
Office of Trade
5) Which of the following agencies does the President consult on military and foreign policy issues?
A
Office of Administration
B
National Security Council
C
Office of Management
D
Council of Economic Advisers
6) What is the main role of the Executive Office of the President?
A
To advise the President
B
To execute the national security policy
C
To pass new legislation
D
To hand out federal aid
7) How do government corporations differ from private corporations?
A
They have no business purpose
B
They do not have income
C
Congress decides their purpose
D
They do not have a board of directors
8) Which are taxes levied on goods brought into the United States
A
Customs duties
B
Gift taxes
C
Regressive taxes
D
Excise taxes
9) Who decides how much the federal government can spend each year?
A
The president
B
The internal revenue service
C
Congress
D
Independent agencies
10) Who creates Independent agencies?
A
The President
B
other federal agencies
C
Congress
D
The White house Office
*select an answer for all questions
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