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Question 1. 1. (TCO 2) This type of tax is assessed on specific goods
and services at the time of purchase.
Estate
Inheritance
Excise
General sales
Value added
Question 2. 2. (TCO 2) Interest earnings of $2,400 from a taxable
investment for a person in a 28% tax bracket would result in after-tax
earnings of
$672.
$1,728.
$2,400.
$3,333.
$8,571.
Question 3. 3. (TCO 2) _____ can reduce taxable income.
Portfolio income
Tax credits
Exclusions
Passive income
Earned income