Use the Following Information to Answer Questions 25 and 26

question 20

Multiple Choice

Use the following information to answer questions 25 and 26.

-Rounded up to two decimal places, what are the inventory turnovers for Wannamaker's and Delano's?

• A) 2.76 and 3.02
• B) 0.93 and 1.20
• C) 1.46 and 0.93
• D) 1.30 and 2.18

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Definitions:

Regressive Tax

A tax imposed in such a way that the tax rate decreases as the amount subject to taxation increases, burdening lower-income individuals relatively more than higher-income ones.

Direct Tax

Taxes paid directly to the government by the taxpayer, such as income tax.

Indirect Tax

A tax collected by an intermediary (like a retailer) from the person who bears the ultimate economic burden of the tax (like the consumer). Examples include sales tax and VAT (Value Added Tax).

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements that may or may not align with the calendar year.