Find the Sales Tax for the Item Using a Sales $\$ 49.39$

question 214

Multiple Choice

Find the sales tax for the item using a sales tax rate of 5%. Purse, $51.99

• A) \(\$ 49.39\)
• B) \(\$ 2.60\)
• C) \(\$ 0.96\)
• D) \(\$ 26.00\)
• E) \(\$ 4.94\)

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Definitions:

Bonus

An additional payment or reward given to employees as an incentive or reward for performance.

Partnership

A form of business organization where two or more individuals agree to share the profits and losses of a business venture.

Noncash Assets

Assets that cannot be easily converted into cash, such as equipment, real estate, and intellectual property.

Capital Balances

The sum of funds invested by owners in a business along with any accumulated profits or losses.