Use the Following Information for Questions

question 82

Multiple Choice

Use the following information for questions
Raney Co.is a retail store operating in a state with a 6% retail sales tax.The retailer may keep 2% of the sales tax collected.Raney Co.records the sales tax in the Sales account.The amount recorded in the Sales account during May was $148,400.
-The amount of sales taxes (to the nearest dollar) for May is

• A)$8,726.
• B)$8,400.
• C)$8,904.
• D)$9,438.

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Definitions:

Cut Costs

A strategy designed to reduce expenses in order to improve financial performance.

Sustainability Goals

Targets set by an organization or government to achieve better environmental, social, and economic outcomes as part of a sustainability strategy.

Stakeholders

Individuals or groups that have an interest, claim, or stake in a company, project, or outcome, and can affect or be affected by the business's actions.

Corporate Philanthropy

The act of a corporation donating some of its profits or resources to charitable organizations or causes.