Question

6. If a fee is in excess of the cost of
service rendered by the government
it has an element of a

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Answer 1

Answer:

It includes the ascertainment of the cost of every order, job, contract, process, service or unit as may be appropriate. It deals with the cost of ...

Answer 2

The excess money government renders for its services is the tax.

• It is a compulsory fee that the government levies on individuals and organizations.
• This revenue collected is used for the benefit of the public.
• Various public expenditure programs, infrastructures, etc use the tax money.
• Nearly 45 percent of tax money is procured from the personal income taxes of the citizens.
• Failing or refusing to pay taxes could lead to serious legal troubles.
• Depending on the payment manner there are direct and indirect taxes.
• Direct payment by the taxpayer to the government is the direct tax.
• Taxes levied through goods and services while buying and selling are indirect taxes.