Which Is Least Likely to Help in Understanding Who Bears

question 52

Multiple Choice

Which is least likely to help in understanding who bears the tax incidence?

• A)Supply elasticity
• B)Demand elasticity
• C)Who the tax is levied on
• D)Whether or not supply is fixed

---

Definitions:

Notes Payable

Short or long-term financial obligations represented by promissory notes, indicating money owed by a company.

Accounts Payable

Money owed by a company to its suppliers or vendors for goods or services received but not yet paid for.

Current Liability

Short-term financial obligations that are due within one year or within a normal operating cycle.

Current Assets

Assets expected to be converted into cash, sold, or consumed within a year or within the operating cycle of a business.