Which one of the following is not a 'canon of taxation' according to Adam Smith? (1) Canon of certainty (2) Canon of simplicity (3) Canon of convenience (4) Canon of economy
(2) Canon of simplicity Explanation: In this book, titled The Wealth of Nations, 'Adam smith only gave four canons of taxation: (i) canon of equity; (ii) canon of certainty; (iii) canon of convenience; and (iv) canon of economy.