Figure 17-9 Refer to Figure 17-9

question 13

Multiple Choice

Figure 17-9 Refer to Figure 17-9. The amount of revenue collected by the government from the tariff is

• A) $200.
• B) $400.
• C) $500.
• D) $600.

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Definitions:

Sale Price

The final price at which an item is sold after any discounts or deductions have been applied.

Invoice

A document issued by a seller to a buyer that lists products or services provided along with the total amount due for payment.

Terms

Conditions and stipulations under which agreements and contracts are made, outlining the obligations of involved parties.

Mark-up

Additional pricing on goods’ cost aimed to cover running expenses and secure profit.