Oakley Company Does Not Ring Up Sales Taxes Separately on the Cash

question 26

Multiple Choice

Oakley Company does not ring up sales taxes separately on the cash register. Total receipts for February amounted to $71,500. If the sales tax rate is 4%, what amount must be remitted to the taxing authority for February's sales taxes?

• A) $2,860
• B) $2,750
• C) $4,290
• D) It cannot be determined.

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Definitions:

Advancing Age

The process of growing older, typically associated with physical, cognitive, and social changes.

Delta Wave

A type of high amplitude brain wave seen in the deepest stages of sleep, associated with restorative sleep.

Electroencephalograph

An instrument used to record the electrical activity of the brain, typically through electrodes placed on the scalp.

Deep Sleep

A stage of sleep that involves the slowest brain waves during the sleep cycle, crucial for physical renewal and healing.