Typically Exempt from the Sales/use Tax Base Is the Purchase

question 116

True/False

Typically exempt from the sales/use tax base is the purchase of lumber by a do-it-yourself homeowner, when she builds a deck onto her patio.

---

Definitions:

Accelerated Payment

A payment method that allows for early settlement of a debt, often reducing the amount of interest.

Negotiate

The process of discussing terms and conditions to reach a mutual agreement between parties.

Check

A written order on a bank or banker payable on demand to the person named or his order or bearer and drawn by virtue of credits due the drawer from the bank created by money deposited with the bank.

Conditional Indorsement

Refers to a signature on a financial document, such as a check, that limits the conditions under which it can be valid.