Directions: Choose the Best Answer Based on the Information You

question 18

True/False

Directions: Choose the best answer based on the information you read in Chapter 5.
​ A Venn diagram is a useful graphic organizer to compare and contrast two topics.

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Definitions:

Pay Cash

The act of making a payment for goods or services with physical currency or through a cash equivalent transaction.

Harmonized Sales Tax

A combined tax that merges a country's federal tax system with that of its states or provinces, used in some countries including Canada.

HST

Harmonized Sales Tax, a combined tax that includes both federal and provincial sales taxes in some Canadian provinces.

Financial Liability

An obligation to pay money to another party, including loans, bond issuances, and accounts payable.