Chapter 12 vocabulary

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Across
  1. 1. a certificate stating that the government has borrowed a certain sum of money from the owner of the bond
  2. 4. tax, a sales tax
  3. 8. these taxes on earning
  4. 10. the primary purpose of taxes is to raise money
  5. 11. a careful examination by training accountants of every item of income and every expenditure
  6. 13. is the income a business has left after paying its expenses
  7. 15. a shortage of money
Down
  1. 1. when a government has its revenue equals its expenditures
  2. 2. a tax that takes a large percentage of income from higher income groups that for lower income groups
  3. 3. excesses of money, when a government collects more money than it spends
  4. 5. this interest plus the total amount of money that the US government has borrowed
  5. 6. payments for the use of loaned money
  6. 7. money charged as a penalty for breaking certain laws
  7. 9. tax, a tax on the value of property owned by a person or by a business
  8. 12. the import tact or sometimes a customs duty
  9. 14. payments charged by governments for various licenses such as hunting license and marriage licenses