13
QuizMultiple Choice

Tax Basics

Question 13 • Financial Math - MA2007

Which of the following is an example of a wealth tax?

Answer
A
income tax
B
excise tax
C
estate tax
D
sales tax

Explanation

An estate tax is charged on the value of a person’s estate when their assets are transferred after death. Because it applies to accumulated wealth, it is an example of a wealth tax. Income, excise, and sales taxes apply to earnings, particular goods, or purchases instead.

AI-written and checked against the verified answer.

Previous
Next