Charles Associates Is a Retail Outlet That Sells Smartphones

question 105

Multiple Choice

Charles Associates is a retail outlet that sells smartphones.The store provides its customers with convenient installment payment options to facilitate the purchase of high-end phones.Which of the following functions is most closely associated with providing installment options?

• A)Financing
• B)Risk taking
• C)Buying
• D)Promotion
• E)Physical distribution

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Definitions:

Tax Liability

The cumulative taxes that must be paid to a taxing authority by an individual, corporation, or other legal entity.

Married Couple

Married Couple refers to two individuals who are legally married to each other and are recognized as a married pair for legal and tax purposes.

Taxable Income

The portion of an individual’s or entity's gross income that is subject to taxes, after accounting for deductions and exemptions.

Dependency Exemption

A tax deduction available to taxpayers for each qualifying dependent, reducing the taxable income. It has been suspended for tax years 2018 through 2025 under the 2017 Tax Cuts and Jobs Act.