Which of the Following Statements About Sales and Use Taxes

question 64

Multiple Choice

Which of the following statements about sales and use taxes is true?

• A)If an individual pays a sales tax on the purchase of an item,she will not have to pay a use tax on the purchase.
• B)An individual must pay both a sales tax and a use tax on the taxable purchase of an item.
• C)Many states that impose a sales tax do not impose a complementary use tax.
• D)None of the above is true.

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Definitions:

Formal Statement

An official, written expression of a fact, opinion, or policy, often used in legal, professional, or academic contexts.

Corruption

The abuse of entrusted power for private gain, manifesting in various forms such as bribery, embezzlement, and nepotism, negatively affecting the efficiency and fairness of public and private sectors.

Economic Espionage

The illegal and covert activity of obtaining confidential economic information or trade secrets from competitors for competitive advantage.

Kickbacks

Illegal or unethical payments made in return for favors or services in business transactions, often seen as a form of bribery.