Quick tax test: Tax 101
Type: Quiz Start taskRead more
Questions: 29
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
  • Fact 5

    In 1917, during World War I, the price of admission into a place of entertainment was taxed. Auditors attended race meetings, theatre and picture shows to ensure the tax was being paid. This tax was also imposed from 1942 to 1953.

Compounding

Where the earnings from an investment are re-invested.

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