Which of the Following Statements Is True

question 108

Multiple Choice

Which of the following statements is true?

• A) The main items that comprise indirect business taxes include excise taxes,income taxes,and property taxes.
• B) Capital consumption allowance is also known as depreciation.
• C) A sales tax is an example of an indirect business tax.
• D) b and c
• E) a,b,and c

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Definitions:

Quantity Discounts

Price reductions offered to buyers who purchase in bulk or exceed specified quantities, incentivizing larger orders.

Cycle Counting

An inventory auditing procedure where a small subset of inventory, in a specific location, is counted on a specified day.

Cyclical Items

Goods or services whose demand fluctuates in a predictable pattern over time due to seasonal, economic, or other cyclic factors.

ABC Analysis

A methodology for classifying inventory items based on their importance, where A items are most valuable, followed by B and then C, to prioritize inventory management efforts.