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A black man in the United States was convicted of a felony when he was 17. He is now 58 and has not committed any crimes since his release. However, he is still not permitted to vote. Michelle Alexander would describe this as an example of
Sales Tax
A tax imposed by a government on the sale of goods and services.
Credit Period
Length of time allowed for payment of goods sold on account.
Discount Period
The time frame in which a payment can be made at a reduced rate.
Contra-revenue Account
An account that offsets revenue accounts on the income statement, such as sales returns, allowances, and discounts.
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