ACCOUNTING 316 (ACCOUNTING 316)
College Of New Rochelle
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ACCOUNTING 316 (96427308)All Chapters Test Bank
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ACCOUNTING 316 ()All Chapters Test Bank 
1.	The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal income tax on individuals. 
 
*a. True 
b. False 
 
 
2.	Before the Sixteenth Amendment to the Constitution was ratified, there was no valid Federal income tax on individuals. 
 
a.	True 
*b. False 
 
 
3.	The first income tax on individuals (after the ratification of the Sixteenth Amendment to the Constitution) levied tax rates from a low of 2% t...

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ACCOUNTING 316 TEST BANK
- Exam (elaborations) • 773 pages • 2021
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ACCOUNTING 316 TEST BANK 
1.	The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal income tax on individuals. 
 
*a. True 
b. False 
 
 
2.	Before the Sixteenth Amendment to the Constitution was ratified, there was no valid Federal income tax on individuals. 
 
a.	True 
*b. False 
 
 
3.	The first income tax on individuals (after the ratification of the Sixteenth Amendment to the Constitution) levied tax rates from a low of 2% to a high of 6%....
All Chapters Test Bank 1

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