Based on the Information in Table B-2, and Assuming a 50

question 19

Multiple Choice

Based on the information in Table B-2, and assuming a 50 percent tax on net profit, the return on investment (ROI) is:

• A) 10%.
• B) 20%.
• C) 15%.
• D) 5%.
• E) the return is negative because the business lost money.

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Definitions:

Property Taxes

Taxes levied by local governments based on the assessed value of real estate property.

HST Remittance

The process of sending payments of the Harmonized Sales Tax collected by businesses to the relevant tax authority.

HST Returns

The process of reporting and remitting the Harmonized Sales Tax collected by businesses to the government, typically on a periodic basis.

HST-Inclusive Price

The total price of a product or service including the Harmonized Sales Tax, which combines the federal goods and services tax and provincial sales tax where applicable.