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Question

Which of the following statements is incorrect?

A Impact refers to the initial burden of the tax, while incidence refers to the ultimate burden of the tax.

B Incidence is at the point of imposition; impact occurs at the point of settlement.

C The impact of a tax falls upon the person from whom the tax is collected and the incidence rests on the person who pays it eventually.

D All of these

E None of these

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