How is sales tax similar to a flat tax?

2 answers:

8 0

A flat tax is a tax system that taxes income at a single fixed rate regardless of an individual income level, meaning that all taxpayers pay the same tax rate on their income.<span>This tax is applied upon consumers at the point of sale for goods and services.</span>
<span> sale tax is a tax imposed on the sale of goods and services that is usually calculated as a percentage of the purchase price and collected by the seller</span>

Vikki [24]4 years ago

3 0

Answer:

Sales taxes and flat taxes are similar in that both of them charge the same tax rate for everyone. A sales tax is levied when you purchase a retail good and it is a fixed percentage of the price of the goods bought. An example of a flat tax is the payroll tax which is 12.4% regardless on the salary paid.

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18) A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise.

pav-90 [236]

Answer:

the amount of cash paid is $1,568

Explanation:

The computation of the amount of cash paid is shown below:

= (purchased value - returned goods) × (1 - discount rate)

= ($1,800 - $200) × (1 - 0.02)

= $1,600 × 0.98

= $1,568

hence, the amount of cash paid is $1,568

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0

4 years ago

When an economy sacrifices production of consumption goods to produce more capital goods, we would expect that the production po

ira [324]

Answer: b. shift inward

Explanation: The curve is delayed in because although capital goods would increase in the possibilities curve, consumer goods are retracted, so that the fault would have a tendency to lean in closer to zero because consumer goods would not increase in same proportion. This is the same as saying that the production capacity will be limited because to increase the amount of consumer goods produced must be reduced, this way the possibilities curve behaves

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3 years ago

Describe four signs that help indicate when ABC systems are likely to provide the most benefits. (Select the four statements th

iris [78.8K]

Answer:

C. Significant amounts of indirect costs are allocated using only one or two cost pools.

D. All or most indirect costs are identified as output unit-level costs.

E. Products make diverse demands on resources because of differences in volume, process steps, batch size, or complexity.

F. Products that a company is well suited to make and sell show small profits, whereas products that a company is less suited to produce and sell show large profits.

Explanation:

ABC (activity based costs) method focuses on individual activities as the main cost objects. After it determines the cost of individual activities, it uses them as the basis for assigning costs to products and services. ABC method allocates overhead costs based on the main cost objects.

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3 years ago

Which of the following statements about cover letters is false?

Radda [10]

The false statement about cover letters from the list of options is C. A cover letter is sent before a résumé so that the employer knows it is coming.

<h3>What is a Cover Letter?</h3>

This refers to the one-page document that a job seeker submits with his resume or CV that serves as an introduction.

Hence, we can see that based on the fact that cover letters are used by job seekers to make an introduction of themselves, we can see that sending it before a resume is false.