Match the following and select the correct option: Column A Column B (i) Taxes imposed on income and wealth A. Regressive (ii) Taxes imposed on goods and services B. Progressive (iii) A tax system where the rate of tax decreases with increase income C. Direct taxes (iv) A tax system where the rate of tax increases as income increase D. Indirect taxes

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(i) C, (ii) D, (iii) A, (iv) B Explanation: Column A Column B (i) Taxes imposed on income and wealth A. Direct taxes (ii) Taxes imposed on goods and services B. Indirect taxes (iii) A tax system where the rate of tax decreases with increase income C. Regressive (iv) A tax system where the rate of tax increases as income increase D. Progressive

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