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

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Definitions:

Farmers

Individuals or entities engaged in agriculture, growing crops and raising livestock for subsistence or commercial purpose.

Surplus

An excess of supply over demand in a market, leading to downward pressure on prices.

Equilibrium Level

Refers to the state in a market where supply equals demand, leading to a stable price for a product or service.

Substitute Good

A product or service that can be used in place of another to satisfy similar needs or desires.