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A Sales Tax Is a Type of Consumption Tax

question 47

True/False

A sales tax is a type of consumption tax.


Definitions:

Sale of Goods

A transaction between a buyer and a seller involving the exchange of tangible personal property for payment.

Gift

A voluntary transfer of property or funds from one person to another without expecting anything in return.

Written Confirmation

A documented acknowledgment that verifies and details the contents of a previous agreement or conversation.

Binding Agreement

A legal contract or decision that is enforceable in a court of law between two or more parties.

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