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1.1.Question :
(TCO 1) Which, if any, of the following would tend to decrease the ad valorem tax on real estate?
An abandoned church building is sold to a restaurant chain.
A tax holiday issued to a manufacturing plant expires.
An office building is converted into condominium units to be sold to senior citizens.
A portion of a city park is sold to a car dealership.
None of the above
Question 2. Question :
(TCO 1) Characteristics of a national sales tax include which of the following?
Like the VAT, it is levied on the producer rather than the consumer.
It is not intended as a replacement for the income tax.