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andrey2020 [161]
3 years ago
13

Who pays the tax does depend on who writes the check to the government?

Business
1 answer:
mina [271]3 years ago
4 0
Who pays the tax does NOT depend on who write the check to the government.
Who pays the check ultimately depend on the elasticity of supply and demand. This is because, suppliers have several ways of passing the taxes levied on them by the government to the consumers in form of increase in price of their products. But this also depend on the elasticity of the products, because if the prices are too high, some customers may decide to buy somewhere else or to go for a substitute.<span />
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Revenue recognition principle.

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The revenue recognition principle states that revenue is recognized in the accounting period in which the performance obligation is satisfied. The cash-basis of accounting is in accordance with generally accepted accounting principles.

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The Future value at year time is $4,260

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