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Ksju [112]
3 years ago
13

As Mariah was looking over her sales receipt for the shirt she bought at a retail store, she discovered that she was charged 6%

more than the price tag showed for the item. What is the extra 6% charge most likely to be?
A. An excise tax on the shirt she purchased.B. Property tax on the shirt she purchased.C. Income tax on she shirt she purchased.D. Sales tax on the shirt she purchased.
Business
1 answer:
Mariana [72]3 years ago
7 0

Answer:

D. Sales tax on the shirt she purchased.

Explanation:

Sales tax is a consumption tax levied by government on the sale of goods and services. Sales tax is usually collected at the point of sale, by the retailer and passed onwards to the government through a tax collection agency.

You might be interested in
The following information was available for Hover Company at Dec 31, 2011; beginning inventory $110k; ending inventory $70k; cos
nata0808 [166]

Answer: Hoover's days in inventory in 2011 was 50 days.

Explanation:

Given that,

Beginning inventory = $110000

Ending inventory = $70000

Cost of goods sold = $660000

Sales = $900000

Average Inventory = \frac{Beginning\ Inventory + Ending\ Inventory}{2}

=  \frac{110000+70000}{2}

= 90000

Inventory Turnover =  \frac{cost\ of\ goods\ sold}{Average\ Inventory}

=  \frac{660000}{90000}

= 7.33

Hoover's days in inventory in 2011 = \frac{Number\ of\ days\ in\ a\ year}{Inventory\ Turnover}

= \frac{365}{7.33}

= 50 Days

3 0
3 years ago
A(n) _____ is another form of intrapreneurship initiated by an employee who conceives an idea, convinces top management of its p
Marina CMI [18]

Answer: skunk works

                                                                           

Explanation: In simple words, skunk works refers to the arrangement under which an individual or a group of individual are given a high degree of autonomy due to their special skills or idea.

These groups works within an organisation for some secret or technical projects and are not strictly monitors by the management for their performance. The group of individuals working is usually low in numbers as the projects they work requires knowledge more than the volume and labor force.

3 0
3 years ago
in its first month of operations, Waterway Industries made three purchases of merchandise in the following sequence: (1) 370 uni
Marta_Voda [28]

Answer:

                             FIFO:            LIFO:

Ending Inventory: 1, 890           1,080

COGS                    6,400           7,210

Explanation:

     (1)  370 units at $4 =  1,480

     (2) 470 units at $6 = 2,820

     (3) 570 units at $7 =<u> 3,990  </u>

<em>Total:</em> 1,410 units <em>Cost: </em>  8,290

FIFO:

The first units are sold while the last are part of ending inventory:

The 270 units of ending inventory will be frm the third purchase.

270 x $7 = 1,890

The COGS will be the difference between the cost of goods available and ending inventory: 8,290 - 1,890 = 6,400

LIFO:

The last units are sold while the first are part of ending inventory

The 270 units of EI will be taken from the first row

270 units x $4 = 1,080

COGS: 8,290 - 1,080 = 7,210

7 0
4 years ago
Siesta Inc., a mattress store, recently launched a new range of mattresses. According to the management of the company, these ma
3241004551 [841]

Answer:

reduce the price by ten percent and offer a three-month return policy

Explanation:

Based on the information provided within the question it can be said that the best way to boost the sales in this scenario would be to reduce the price by ten percent and offer a three-month return policy. This marketing tactic is used by many stores when a certain product is not doing so well, and it works well since it gives customers the peace of mind of being able to return the product if they are not satisfied by it, as well as not having to pay full price for the item.

3 0
4 years ago
Assume the expected return on the market is 9 percent and the risk-free rate is 4 percent. (a1) What is the expected return for
Ad libitum [116K]

Answer:

r or expected rate of return = 0.13 or 13%

Explanation:

Using the CAPM, we can calculate the required/expected rate of return on a stock. This is the minimum return required by the investors to invest in a stock based on its systematic risk, the market's risk premium and the risk free rate.

The formula for required rate of return under CAPM is,

r = rRF + Beta * (rM - rRF)

Where,

  • rRF is the risk free rate
  • rM is the market return

r = 0.04 + 1.80 * (0.09 - 0.04)

r or expected rate of return = 0.13 or 13%

8 0
3 years ago
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