Answer 3-5 and 7-8

Excise tax and sales tax are really the same tax. True False Excise tax is a tax paid in addition to sales tax True False Tax rates may be expressed in more than one way. True False Sales tax is taken on Trade discounts Cash discounts Shipping charges Selling price less trade discount The sales of $200,000 that included a 7% sales tax yields actual-sales of: $140,000.00 $106, 915.88 $70,000.00 $186,000.00 John Smith bought a new mink cost for $40,000. Sales tax is 6% with a 10% excise tax. The total price including taxes that John paid is. $44,000 $46, 400 $33, 600 $46, 640