The National Bellas Hess Decision Held That an Out-Of-State Mail-Order

question 23

True/False

The National Bellas Hess decision held that an out-of-state mail-order company did not have sales tax collection responsibility because it lacked physical presence.

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Definitions:

Debit Balance

It is the remaining amount owing in an account after all debits and credits have been accounted for, typically found in asset and expense accounts.

Recorded By Credits

Recorded by Credits refers to accounting entries made on the credit side of an account, indicating an increase in liabilities, revenue, or equity, or a decrease in assets.

Decreases

A reduction in the quantity, size, or value of something.

Notes Payable

A written agreement or promissory note to pay a certain sum of money, usually with interest, by a specific date.