Which terms best describe sales tax check all that apply
Asked by maham237 @ in Business viewed by 410 People
Asked by maham237 @ in Business viewed by 410 People
Answered by maham237 @
ANSWER: Indirect and Regressive
EXPLANATION: The Sales Tax is a tax which is imposed by the government on the sale of products and services. This tax is both Indirect and Regressive in nature.
Sales Tax is indirect because it is imposed by the government but are collected by the seller or the manufacturers (also known as Intermediary) on behalf of the government from the consumers. The intermediary then passes on the tax to the government.
Sales Tax is also regressive in nature as it imposed uniformly on the consumers regardless of the economic condition of the buyer. The term 'Regressive' means that the tax distribution pressure decreases as the buyer's income goes higher. The tax burden will be higher for low income group people and will be lower for high income group people.
Asked by maham237 @ in Business viewed by 376 persons
Asked by wiki @ in Mathematics viewed by 423 persons
Asked by maham237 @ in English viewed by 435 persons
Asked by maham237 @ in Social Studies viewed by 333 persons
Asked by maham237 @ in Physics viewed by 386 persons
Asked by maham237 @ in English viewed by 306 persons
Asked by maham237 @ in Business viewed by 272 persons
Asked by maham237 @ in History viewed by 501 persons
Asked by maham237 @ in Social Studies viewed by 328 persons
Asked by maham237 @ in History viewed by 476 persons
Asked by admin @ in Business viewed by 360 persons
Asked by admin @ in Advanced Placement (AP) viewed by 460 persons
Asked by admin @ in Computer Science viewed by 351 persons
Asked by maham237 @ in Social Studies viewed by 365 persons
Asked by admin @ in Business viewed by 472 persons
Asked by maham237 @ in Business viewed by 2738 persons
Asked by maham237 @ in Business viewed by 2108 persons
Asked by wiki @ in Business viewed by 1699 persons
Asked by maham237 @ in Business viewed by 1480 persons
Asked by maham237 @ in Business viewed by 1292 persons
Asked by maham237 @ in Business viewed by 1172 persons
Asked by maham237 @ in Business viewed by 1085 persons
Asked by maham237 @ in Business viewed by 1074 persons
Asked by maham237 @ in Business viewed by 1064 persons
Asked by wiki @ in Business viewed by 985 persons
Asked by maham237 @ in Business viewed by 972 persons