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Nady [450]
3 years ago
8

Which of the following statements summarizes the incidence of the tax?

Business
1 answer:
tekilochka [14]3 years ago
8 0

Answer:

A. For each unit of the good that is sold, buyers bear one-half of the tax burden, and sellers bear one-half of the tax burden.

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Glenn Company purchased merchandise inventory with an invoice price of $9,000 and credit terms of 2/10, n/30. What is the net co
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Answer:

The correct answer is B

Explanation:

The net cost of goods is computed as if the paid in the discounting period:

Net Cost of goods = Inventory cost - (Inventory cost × Discounting percentage)

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Discounting percentage is 2%

Putting the values above:

Net Cost of goods = $9,000 - ($9,000 × 2%)

Net Cost of goods = $9,000 - $180

Net Cost of goods = $8,280

Therefore, the amount of $8,280 will be paid by the company if paid within the discounting period and avail the discount of $180.

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