A City Levies a 2% Sales Tax That Is Collected $1 / 20 / 11$

question 4

Multiple Choice

A City levies a 2% sales tax that is collected for them by the State.Sales tax must be remitted by the merchants to the State by the 20^th day of the month following the month in which the sale occurred.The State has a policy of remitting sales taxes to the City within 30 days of collection by the State.Cash received by the State related to sales tax is as follows: Amount received $1 / 20 / 11$ , applicable to December 2010 sales $\quad\$ 100$
Amount received $2 / 20 / 11$ , applicable to January 2011 sales $\quad\$ 30$
Amount received $3 / 20 / 11$ , applicable to February 2011 sales $\quad\$ 20$
Amount received during 2011 related to March-November 2011 sales $\quad\$ 380$
Amount received 1 / 20 / 12 for December 2011 sales $\quad\$ 110$
Amount received $2 / 20 / 12$ for January 2012 $\quad\$ 40$
Amount received $3 / 20 / 12$ for February 2012 $\quad\$ 10$ Assuming the City uses the same period to define "available" as the maximum period allowable for property taxes, what amount should it recognize as sales tax revenue in its governmental fund financial statements for the fiscal year ended 12/31/11.

• A) $430.
• B) $530.
• C) $540.
• D) $550.

Understand the factors that determine a firm's capital structure and the importance of market values in computing WACC.

Learn the impact of flotation costs on capital budgeting analysis and the net present value of projects.

Understand the fundamental principles of classical conditioning, including the roles of unconditioned stimuli (UCS) and conditioned stimuli (CS).

Understand the concept and application of operant conditioning, including reinforcement and punishment.

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Definitions:

Intrinsic Motivation

The drive to engage in an activity for its own sake, enjoying the process without external reward or pressure.

Literacy

The ability to read and write, or having knowledge in a specific area.

Social Status

Social status is the perception of an individual's or group's value within a social hierarchy, influenced by factors such as wealth, occupation, education, and family lineage.

Social Play

A category of play that involves interactions with others, including cooperative and competitive activities, crucial for the development of social skills.