Find the Total Amount, Including Tax, for an Item with a Price

question 61

Multiple Choice

Find the total amount, including tax, for an item with a price of $13.50 and a tax rate of 4%.

• A) \(\$ 18.90\)
• B) \(\$ 14.04\)
• C) \(\$ 8.10\)
• D) \(\$ 12.96\)
• E) \(\$ 0.54\)

Recognize the role of individualized consideration in leadership.

Appreciate the significance of risk-taking in transformational leadership.

Understand the techniques and analysis used in identifying business financial troubles and opportunities.

Grasp the importance and implications of bankruptcy laws and their impact on firm restructuring and creditor prioritization.

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Definitions:

Original Voucher

A primary document used as a piece of evidence for a transaction that has occurred, supporting entries in an accounting system.

Net Method

A pricing strategy where the sale price of a good or service includes all discounts and is not subject to additional discounts at the time of payment.

Periodic Inventory System

An inventory management method where stock levels and the cost of goods sold are calculated at set intervals.

Terms 2/10, N/30

Payment terms indicating that a buyer can take a 2% discount if the bill is paid within 10 days, with the net amount due in 30 days.