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It is a regressive tax.
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∙ 12y ago
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What statement is common argument against sales tax?
It is a regressive tax
What is a common argument against sales tax?
It is a regressive tax.
How do you present sales returns in the income statement?
sales+sales return=net sales
What section would sales returns and allowances be on the income statement?
Sales returns and allowances reduces the actual sales value that;s why shown as deduction from Sales Revenue in Income Statement
Are cash sales an asset?
The cash derived from the sales would be the asset. While the term "cash sales" (as opposed to credit sales) may appear on an income statement or a cash flow statement in the plus column, the cash received would appear as an asset on the balance sheet or financial statement.
What statement is common argument against sales tax?
It is a regressive tax
What statement is a common argument against sales tax?
Regressive tax
What is a common argument against sales tax?
It is a regressive tax.
How can you use argument in a better way?
The word argument typically means a disagreement. However, an argument can also be a statement for or against an action. "The mayor made a strong argument against raising the sales tax."
In a common size income statement the 100 percent figure is?
The Net Sales
Where does sales go on a cash flow statement?
sales is not part of cash flow statement and sales is part of income statement.
What are the Objectives of common size financial statement?
A common size financial statement measure the relationship of different items of financial statement with a common variable (net sales in case of common size income statement). I helps to analyze business performance effectively. It is especially useful in comparing various variables of companies of different sizes and scopes.
Does sales return and allowances go on the statement of earnings?
--> another term for Statement of Earnings is Income Statement --> in income statement, you deduct the Sales Return & Allowances from the Gross Sales to come up with Net Sales --> in presentation purposes, usually it is only the Net Sales account that is shown
How do you present sales returns in the income statement?
sales+sales return=net sales
What section would sales returns and allowances be on the income statement?
Sales returns and allowances reduces the actual sales value that;s why shown as deduction from Sales Revenue in Income Statement
Does cash flow statement show sales?
cash flow statement don't show the sales but changes in accounts receivable and payable are shown in it.
What accounts can be found in income statement?
Accounts found on an Income Statement are : Cost of Sales, Sales Rev., Selling Expense and Wage Expense
