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2 years ago

Juan buys gas at the gas station. The gas station submits funds for road maintenance. What type of tax is this? (5 points)

Business

1 answer:

prisoha [69]2 years ago

6 0

Answer:

Indirect taxes

Explanation:

Indirect taxes are the taxes levied on transactions as opposed to direct taxes that are imposed on incomes. An indirect tax is added to the prices of goods and services and collected by the seller or retailer. The retailer acts as the tax intermediary and submits the taxes collected to the government.

Examples of Indirect taxes include excise duty tax, value-added tax, and sales tax. Gas attracts sales tax and road maintenance tax. These taxes increase the price of gas, making them indirect taxes.

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Answer:

$7,700 increase

Explanation:

We can determine the change in Wolverine's cash balance by deducting the cash disbursement and operating expenses from the cash receipts.\

Change in cash balance = Cash receipts - Cash disbursement - Operating expense

Change in cash balance = $48,000 - $33,800 -$6,500

Change in cash balance = $7,700

WORKING:

Cash Receipts

Sales

February ( 59,000 x 45%) $26,550

January ( 39,000 x 55%) $21,450

Total $48,000

Cash disbursement

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February ( 44,000 x 15%) $6,600

January ( 32,000 x 85%) $27,200

Total $33,800

Operating expenses

Incurred $9,400

Depreciation ($2,900)

Net $6,500

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3 years ago

The demand for most products varies directly with changes in consumer incomes. Such products are known as_________.

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Answer:

Normal goods

Explanation:

In simple words, normal goods refers to the goods which re necessary for the survival for the survival for re consumer and the consumer do not take its quality into consideration while making a purchase decision.

The demand for such goods have a positive relationship with the income of consumer, that is, when the income or wages of consumer increase the demand for such goods also increases and vice versa.

The increase in demand for normal goods by consumer is sometimes also seen as an indicator of an economic growth. Clothes, vegetable and medicines are some of the many examples of normal goods.

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