Which of the Following Is Not One of the New

question 161

Multiple Choice

Which of the following is not one of the new taxes imposed under the PPACA?

• A) 2.9 percent excise tax on medical devices
• B) 10 percent tax on indoor tanning
• C) 3.8 percent tax on "junk food"
• D) 40 percent tax on employers providing insurance to employees in excess of $10,200 per year for individuals or $27,500 per year for families.

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Definitions:

Budgeted Balance Sheet

A forecasted statement of a company's financial position, including assets, liabilities, and equity, at the end of a specified period.

Sales Collected

The total amount of money received by a company from its customers for the sale of its goods or services.

Raw Materials

Substances or components that are used in the production or manufacturing of goods.

Budgeted Cost PURCHASES

Budgeted cost purchases refer to the projected expenditure for acquiring goods or services as planned within a budget period, usually part of a company's purchasing budget.