What is a sales receipt?

• A document that shows the price of each item or service purchased, the total selling price, the sales tax, and the total purchase price.

• A document that shows only the sales tax.

• A document that shows the price of each item without tax.

• A document that shows only the total purchase price.

How do you calculate the total purchase price?

• Total Purchase Price = Total Selling Price + Sales Tax

• Total Purchase Price = Total Selling Price - Sales Tax

• Total Purchase Price = Total Selling Price x Sales Tax

• Total Purchase Price = Total Selling Price / Sales Tax

How much is the sales tax on the couch purchased by Junior Sarto?

• $30.00

• $25.00

• $27.55

• $20.55

What is the total purchase price of the couch including sales tax?

• $599.00

• $626.55

• $627.00

• $625.00

How do you calculate the sales tax amount from the total selling price?

• Multiply the total selling price by the sales tax rate

• Add the sales tax rate to the total selling price

• Subtract the sales tax rate from the total selling price

• Divide the total selling price by the sales tax rate

In the example, what is the purpose of calculating the sales tax?

• To reduce the total purchase price

• To determine the final amount to be paid

• To find the discount on the item

• To calculate the profit margin

What is the total amount added to the selling price to get the total purchase price?

• $599.00

• $27.55

• $626.55

• $572.45

What would be the total purchase price if the selling price was $700 and the sales tax was $32.20?

• $732.20

• $726.55

• $700.00

• $699.00

Why is it important to know the sales tax rate when making a purchase?

• To calculate the discount

• To determine the final cost

• To find the profit margin

• To know the refund amount

What is the total selling price of the items Judith Woods purchased?

• $157.47

• $167.47

• $150.00

• $160.00