MrDodd Resides in a State with a 6% Sales and Use

question 1

Multiple Choice

Mr.Dodd resides in a state with a 6% sales and use tax.He recently traveled to another state to buy furniture and paid that state's 4% sales tax.Which of the following statements is true?

• A)Mr.Dodd's use tax liability to his home state equals 2% of the purchase price of the furniture.
• B)Mr.Dodd does not owe a use tax to his home state.
• C)Mr.Dodd's use tax liability to his home state equals 6% of the purchase price of the furniture.
• D)None of the above is true.

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Definitions:

Strategic Planning

The process of defining a direction for an organization by setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.

Organizational Direction

The guidance or strategy that a company or organization follows to achieve its goals and objectives.

Repetition of Activities

The act of performing the same tasks or procedures multiple times to achieve consistency, proficiency, or for reinforcement.

Critical Thinking Skills

The ability to analyze facts, generate and organize ideas, defend opinions, make comparisons, draw inferences, evaluate arguments, and solve problems.