Multiple choice

Directions: Select the most appropriate meaning for the given Latin expression.

Ad valorem

  1. to victory

  2. add to the total

  3. according to the value

  4. things to be added
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Ad valorem is a Latin phrase meaning 'according to value.' It is used primarily in taxation to describe taxes or fees calculated as a percentage of the value of goods, property, or transactions rather than as a fixed amount. Property taxes and import duties often use ad valorem rates.

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