Mr. Smith resides in a state with a 6% sales and use tax. He recently traveled to another state to buy furniture and paid that state's 7% sales tax. Which of the following statements is true?
A. Mr. Smith is entitled to a refund of 1% of the purchase price of the furniture.
B. Mr. Smith's use tax liability to his home state equals 6% of the purchase price of the furniture.
C. Mr. Smith does not owe a use tax to his home state.
D. None of the above is true.
Answer: C
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A) service B) market C) extend D) brand E) license
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The budget method of estimating life insurance needs considers all of the following, except
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