Match Each of the Following Items with the Appropriate Description

question 162

Multiple Choice

Match each of the following items with the appropriate description in determining whether sales/use tax typically must be collected.
-Computing services purchased by a business.

• A)Taxable
• B)Not taxable

---

Definitions:

Compounded Semi-annually

A method of calculating interest where the interest amount is added to the principal amount twice a year, leading to compound growth.

Amortization Period

The length of time it takes to fully pay off a debt with regular payments that cover both principal and interest.

Cash-back Mortgage

A type of mortgage where the borrower receives a cash rebate upfront, often used for home improvements or debt consolidation.

Compounded Semi-annually

A method of calculating interest where the interest is added to the principal amount twice a year and then interest is subsequently earned on the new principal.