Asked by
Tiana Johnson
on Oct 12, 2024Verified
A tax increase is usually borne
A) entirely by the seller.
B) entirely by the buyer.
C) partially by the seller and partially by the buyer.
Tax Increase
A rise in the amount of money that taxpayers must pay to the government, typically presented as a percentage of income or value of goods and services.
Seller
An individual or entity that offers goods or services in exchange for payment or other compensation.
Buyer
An individual or organization that purchases goods or services from another entity.
- Identify the instances where the financial obligation of taxes is borne by buyers versus sellers.
Verified Answer
JP
Learning Objectives
- Identify the instances where the financial obligation of taxes is borne by buyers versus sellers.