A Combination of the GST and the PST Is Referred

question 84

Multiple Choice

A combination of the GST and the PST is referred to as which of the following?

• A) combined tax
• B) joint sales tax
• C) goods and provincial tax
• D) harmonized tax

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Definitions:

Preprinted Promissory Note

A standardized, fill-in-the-blank form that evidences a promise to pay a specified amount of money to a named party under agreed terms.

Payable

Refers to amounts of money that a business or individual owes to another party and is required to pay, typically within a specified period.

Forge

To create a fake version of something, such as a document or signature, with the intent to deceive.

HDCs

Stands for Holders in Due Course, referring to parties holding a negotiable instrument free from certain defenses and claims.