Tax Test : Question Preview (ID: 8525)

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