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WAEC Economics 1992 Question 37

Question 37

Public Finance

Indirect taxes are taxes which

  1. A.are levied on the incomes and profits of individuals and firms
  2. B.always affect the producer only
  3. C.are based on progressive principles
  4. D.are based on regressive principles
  5. E.are levied on goods and services purchased by individuals and firms.
Show the answer and explanation

Answer: E (are levied on goods and services purchased by individuals and firms.)

Explanation

Indirect taxes are placed on goods and services and paid through their prices.