Thursday, 4 February 2016

Cima F1 Exam Question No 37

Question No 37:

Which ONE of the following defines the meaning of “hypothecation”?

A.
A new tax law has to be passed each year to allow taxes to be legally collected.
B.
The difference between the total amount of tax due to be paid and the amount actually collected by the tax authority.
C.
Tax is deducted from amounts due before they are paid to the recipient.
D.
The products of certain taxes are devoted to specific types of public expenditure.

Answer: D

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