Financial Accounting MCQS - QUESTION DETAILS

Which tax is imposed on the income earned by an individual or business through their professional or trade activities?
A. Corporate Tax
B. Value Added Tax (VAT)
C. Excise Tax
D. Income Tax

Income Tax is imposed on income earned through professional or trade activities.

Similar Questions

What financial tool assesses the company's ability to meet its short-term obligations using its most liquid assets?






In personal finance, what involves strategically managing and optimizing the financial aspects of one's home?






In the context of investment management, what does the term "market research" involve?






What refers to the agreements between countries to limit the flow of capital across borders in International Finance?






What type of institution engages in the creation of investment opportunities, raising capital for businesses, and advising on financial transactions?






Which financial institution specializes in managing large pools of capital for institutional investors, such as pension funds and endowments?






What area of personal finance involves actively managing one's investment portfolio to achieve specific financial objectives?






What term describes the process of strategically managing and optimizing credit usage to improve creditworthiness?






What financial practice involves generating additional income through part-time or secondary employment?






What is the primary goal of "capital budgeting" in the context of corporate finance?