CUNA Financial Counselor Practice Exam

Question: 1 / 400

What type of payments are businesses required to make to the government?

Loan repayments

Required taxes

Businesses are mandated to make required taxes to the government as a fundamental aspect of their operations. Taxes are essential for funding various public services and infrastructure, and compliance is a legal obligation for any business entity operating within a jurisdiction. This includes various forms of taxation, such as income tax, sales tax, property tax, and payroll taxes, which contribute to government revenue.

In contrast, loan repayments, utility payments, and insurance premiums, while they are important financial responsibilities for businesses, do not represent mandatory contributions to the government. Loan repayments are obligations to lenders; utility payments are for the services provided by utility companies; and insurance premiums are payments made to insurance providers for coverage. These categories are not directly required payments to the government, which is why they do not fulfill the definition of the question.

Get further explanation with Examzify DeepDiveBeta

Utility payments

Insurance premiums

Next Question

Report this question

Download CUNA Financial Counselor Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy