Gross Selling Price Includes

question 58

Multiple Choice

Gross selling price includes
I.the amount of a seller's debt assumed by the buyer.
II.the fair market value of services received by the seller from the buyer.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Scanty

Insufficient in amount or quantity; minimal or sparse.

Little

A term indicating a small size, amount, or degree of something.

Posttest

An examination or evaluation conducted after a course of study or period of training to assess what has been learned.

Instruction

The act of teaching or educating, often involving a direction or order that is to be followed.