Civics Ch 12 Paying for Government

A shortage of money: a government spends more money than it collects is a surplus

• True
• False

The income a business has left after paying its expenses is a profit

• True
• False

Taxes on products imported from other countries.

• Tariff
• Bond
• Surplus

Taxes on the amount of money earned as an individual or business is a property tax

• True
• False

Fees charged by governments for various licenses are fines.

• True
• False

Revenue is money

• True
• False

A careful examination by trained accountants of every item of income and every expenditure

• Income Tax
• Audit
• Deficit
• Review

When the government's revenue equals its expenditures

• Balanced Budget
• Surplus
• National Debt
• Deficit

An excess of money, a government collect more money than it spends.

• Surplus
• Profit
• Balanaced Budget
• Deficit

A tax on a gift of over $12,000

• Progressive Tax
• Property Tax
• Income Tax
• Gift Tax