Businesses That Are Allowed to Use the Quick Method for Applying

question 2

Multiple Choice

Businesses that are allowed to use the Quick Method for applying GST/HST include -

• A) banks and other financial institutions
• B) any business with annual sales less than $500 000
• C) some small businesses
• D) all businesses may use the Quick Method

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Definitions:

Departmental Personnel

Staff or workers who belong to a specific department within an organization, each contributing to its functional objectives.

Furniture Department

A division within a store or company that specializes in selling furniture products.

Profit Margin

A financial metric that indicates the percentage of revenue that remains as profit after accounting for costs and expenses.

Investment Turnover

A measure of how efficiently an entity is using its investments to generate sales, typically calculated as sales divided by the average investment.