If a Tax Is Imposed on a Good with a Perfectly

question 33

Multiple Choice

If a tax is imposed on a good with a perfectly inelastic supply,the burden of the tax will be borne

• A) by both consumers and producers equally.
• B) by consumers alone.
• C) by producers alone.
• D) mostly by consumers but partially by producers.
• E) mostly by producers but partially by consumers.

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Definitions:

Consolidation Entry S

A journal entry that combines the financial statements of a parent company with its subsidiaries to present as a single entity.

Consolidation Worksheet

A tool used in preparing the consolidated financial statements, facilitating the combination of financial information.

Purpose

The reason for which something exists or is done, made, or used.

Acquisition Method

An accounting method used to account for business combinations, focusing on recognizing and measuring the assets acquired, liabilities assumed, and any non-controlling interest in the acquiree.