When Using QuickBooks, Sales Tax Is

question 12

Multiple Choice

When using QuickBooks, sales tax is:

• A)Calculated manually for each item sold
• B)Calculated for all items that are listed on an invoice
• C)Calculated automatically by QuickBooks for items flagged as taxable
• D)All of these

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Definitions:

Market Price

The price at which a product or service is sold in the open market, determined by supply and demand.

Willing To Pay

The maximum amount a consumer is prepared to spend on a good or service.

Costs Of Production

The total expenses incurred in the manufacture of a product or the offering of a service.

CD-Rom Drives

Devices that read information stored on Compact Discs, primarily used for retrieving, transferring, or storing digital data.