Exam 19: Sales, Excise, and Property Taxes

Tax rate per dollar is calculated by taking the budget needed divided by the total assessed value.

(True/False)

4.8/5

(45)

Question 61

A mill is 1/10 of a cent.

(True/False)

4.7/5

(46)

Question 62

Judy Ring purchased a watch with a retail price of $8,000. She would still have to pay a sales tax of 6% and an excise tax of 10%. Since the jeweler would be shipping this, there would be an additional $20 shipping charge. The total purchase price of this watch for Judy is:

(Multiple Choice)

4.9/5

(38)

Question 63

Sales tax is collected by wholesalers.

(True/False)

4.9/5

(47)

Question 64

Calculate amount of tax due: A. $1,957.50; B. $6,013.86; C. $4,725

(Essay)

4.9/5

(32)

Question 65

Tax rates may be expressed only per $100 of assessed valuation.

(True/False)

4.8/5

(42)

Question 66

Showing 61 - 66 of 66

Tax rate per dollar is calculated by taking the budget needed divided by the total assessed value.

A mill is 1/10 of a cent.

Judy Ring purchased a watch with a retail price of $8,000. She would still have to pay a sales tax of 6% and an excise tax of 10%. Since the jeweler would be shipping this, there would be an additional $20 shipping charge. The total purchase price of this watch for Judy is:

Sales tax is collected by wholesalers.

Calculate amount of tax due: A. $1,957.50; B. $6,013.86; C. $4,725

Tax rates may be expressed only per $100 of assessed valuation.

Whole Numbers: How to Dissect and Solve Word Problems

Fractions

Decimals

Banking

Solving for the Unknown: a How-To Approach for Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

Payroll

Simple Interest

Promissory Notes, Simple Discount Notes, and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

Installment Buying

The Cost of Home Ownership

How to Read, Analyze, and Interpret Financial Reports

Depreciation

Inventory and Overhead

Filters