Under a Value-Added Taxing System

question 102

Multiple Choice

Under a value-added taxing system:

• A) Businesses must pay a tax only if they make a profit.
• B) The consumer ultimately bears the cost of the tax through higher prices.
• C) Consumer savings are discouraged.
• D) The amount of value added is the difference between an organization's sales and its cost of goods sold.

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Definitions:

Aboriginals

Indigenous peoples native to a land or region, especially referring to the First Nations, Inuit, and Métis peoples of Canada.

American West

A region of the United States located west of the Mississippi River, characterized by its diverse landscapes, history of expansion and settlement, and cultural significance.

Agricultural Production

Refers to the process of cultivating crops and livestock for human consumption and use.