To calculate the cost when the selling price and percent markup based on the selling price are ...

To calculate the cost when the selling price and percent markup based on the selling price are known, use the formula:  Cost = Percent Markup on Selling Price(100 - Selling Price)
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Q. 2

A dollar-for-dollar subtraction from an individual's or corporation's tax liability is called a tax deduction.
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Q. 3

Kurt's Krafts purchases hand woven rugs from a local artisan for 750 each. The rugs are marked up by 40 based on the selling price.  The retail price of the rugs will be 1250.
  Indicate whether the statement is true or false

Q. 4

A pay-as-you-go tax based on the income of an individual or corporation is called an excise tax.
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