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