To calculate a tax, you need to know:I. the tax baseII. the taxing agencyIII. the tax rateIV. the purpose of the tax
A) Only IV is correct.
B) Items I through IV are correct.
C) Only III is correct.
D) Only I is correct.
E) I and III are correct.

Question

Quizplus · Accepted Answer

To calculate a tax, you need to know the tax base (the amount on which tax is calculated) and the tax rate (the percentage or amount of tax applied to the tax base).

To Calculate a Tax, You Need to Know:I