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Question
Match the following and select the correct option:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Regressive |
| (ii) | Taxes imposed on goods and services | B. | Progressive |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Direct taxes |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Indirect taxes |
Options
(i) D, (ii) A, (iii) B, (iv) C
(i) C, (ii) D, (iii) B, (iv) A
(i) B, (ii) A, (iii) D, (iv) C
(i) C, (ii) D, (iii) A, (iv) B
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Solution
(i) C, (ii) D, (iii) A, (iv) B
Explanation:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Direct taxes |
| (ii) | Taxes imposed on goods and services | B. | Indirect taxes |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Regressive |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Progressive |
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