1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
uysha [10]
3 years ago
11

The presence of a sales tax means that people pay a tax on most everyday things they buy, such as clothes and groceries. In the

United States, 45 states collect state sales tax, and 38 states collect local sales tax. In 2018, the highest combined state and local sales tax was 10.02%, in Louisiana. The sales tax amount varies by location, but everyone purchasing within an area pays the same percentage sales tax.
a. Sales tax:_________.
i. is relatively more expensive to the poor than to the rich.
ii. is a relatively small expense for both the rich and the poor.
iii. is relatively more expensive to the rich than to the poor.
iv. impacts poor and rich families in the same way because everyone pays the same percentage.
b. A sales tax is:_______.
i. regressive
ii. progressive
Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
5 0

Answer:

i. is relatively more expensive to the poor than to the rich.

regressive

Explanation:

A sales tax is a tax on the consumption of goods and services levied by the government or an agency of the government.

There are three types of tax systems

1. Regressive tax system is a tax system where those that earn lower income pay more tax and those that earn higher income pay less tax.  

2. A proportionate tax taxes everyone the same regardless of the amount earned.  

3. A progressive tax is a tax structure where those who earn higher income are taxed more and those that earn less pay less amount of tax.  

A sales tax is regressive.

This can be illustrated with an example.

Person A earns $100,000 while person B earns $1000. They both purchased a good and the sales tax paid was $50.

The proportion of sales tax to income for person A = 50 / 100,000 = 0.05%

The proportion of sales tax to income for person B = 50 / 1000 = 5%

It can be seen that the sales tax  is relatively more expensive to the poor than to the rich. this is an example of a regressive tax

You might be interested in
Last year Lowell Inc. had a total assets turnover of 1.40 and an equity multiplier of 1.75. Its sales were $295,000 and its net
katrin [286]

Answer:

ROE would have changed by 8.52%

Explanation:

First we calculate the current ROE using Dupont Equation which gives ROE as,

ROE = Net Income/Sales * Sales/Total Assets * Total Assets/Equity

or

ROE = Net Profit Margin * Total Assets Turnover * Equity Multiplier

  • Current ROE = 10600/295000 * 1.4 * 1.75 = 0.0880 or 8.8%

The condition says that the net income could have increased to 20850 but other factors will remain constant. Thus, to calculate new ROE, we will calculate the new Net Profit margin but the total assets turnover and the equity multiplier will remain constant as sales assets and capital structure is not changing.

  • New ROE = 20850/295000 * 1.4 * 1.75 = 0.17316 or 17.32%
  • The ROE would have changed by 17.32 - 8.80 = 8.52%
7 0
3 years ago
With ________, the seller pays both the cost of loading and transporting the product to the customer.
Lynna [10]

With  F.O.B. delivered pricing   the seller pays both the cost of loading and transporting the product to the customer.

Means of transport is used interchangeably with means of transport. Transportation means include buses, trains, planes, ships, cars, etc. Transportation means roads, airways, oceans, and so on. It is one of many types of transport machinery used to transport people and cargo.

Modern means of transportation include airways, waterways, and railroads. Description: Modes of transport include air, water, and land. Examples of modern transportation include ships, boats, planes, and trains. Each mode of transportation has its own infrastructure, vehicles, carriers, and operations.

Means of transport is used interchangeably with means of transport. Transportation means include buses, trains, planes, ships, cars, etc. Transportation means roads, airways, oceans, and so on. It is one of many types of transport machinery used to transport people and cargo.

Modern means of transportation include airways, waterways, and railroads. Description: Modes of transport include air, water, and land. Examples of modern transportation include ships, boats, planes, and trains. Each mode of transportation has its own infrastructure, vehicles, carriers, and operations.

Learn more about transporting  here

brainly.com/question/27667264

#SPJ4

8 0
1 year ago
You are considering the purchase of a new machine to help produce a new product line being introduced. The machine is expected t
miss Akunina [59]

Answer:

A. 4.3 batches

B. 215 parts

C. 3 batches

D. 184 parts

Explanation:

Please find explanation attached

7 0
3 years ago
How do you get brainlist
miss Akunina [59]

Answer:

To get brainliest, you have to provide a very good answer, and the person who asked the question can pick your answer to be brainliest using a bottom right of the question icon. A brainliest answer probably helped the user, and they are happy enough with your question to award you this.

Explanation:

8 0
3 years ago
Exercise Bicycle Company is expected to pay a dividend in year 1 of $1.20, a dividend in year 2 of $1.50, and a dividend in year
prisoha [69]

Answer:

E.  $40.68

Explanation:

The computation of the stock worth today is shown below:

= (Dividend in year 1 ÷ 1 + required rate of return^number of years ) + (Dividend in year 2 ÷ 1 + required rate of return^number of years) + (Dividend in year 3 ÷ 1 + required rate of return^number of years)  + (Dividend in year 3 ÷ 1 + required rate of return^number of years) × (1 + growth rate) ÷ (required rate of return - growth rate)

= $1.2 ÷ 1.14 + $1.5 ÷ 1.14^2 + $2 ÷ 1.14^3 + $2 ÷ 1.14^3 × (1 + 10%) ÷ (14%-10%)

= $40.68

We simply applied the above formula

3 0
3 years ago
Other questions:
  • Buckeye Corporation adopted dollar-value LIFO on January 1, 2021, when the inventory value was $514,000 and the cost index was 1
    10·1 answer
  • Two studies found a link between exchange rates and the stock prices of U.S. firms; a. this suggests that exchange rate changes
    11·1 answer
  • Which of the following is a typical complaint of host-country competitors against foreign firms? Foreign firms burden the host-c
    10·1 answer
  • Ivanhoe Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales re
    13·1 answer
  • Mo has a credit card that gives a 3% discount on every purchase. The annual percentage rate on the card is 12%. He is purchasing
    7·2 answers
  • Identify the accounting assumption or principle that is described below.
    7·1 answer
  • Which one of the following is a formal document to manage and control project execution?
    11·1 answer
  • Which career pathway is expected to have a growth rate that is average or below?
    8·2 answers
  • a. Some entrepreneurs claim that creating a business plan is not necessary for launching a successful business venture. Do you a
    7·1 answer
  • In the project initiation phase, which document contains high-level details of the proposed project?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!