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