True of false?

Question

(1) One of the major ADVATAGES of a partnership is unlimited liability? i wrote FALSE

(2) When a company has no competiton it is considered a monopoly? I wrote T

(3) A 6% sales tax that all consumers must pay on goods purchased ia an example of a graduated tax? ???

thank u am i right with the other and #3 can anyone tell me?

Answer 1

I agree with you on (2) and (3).

The 6% sales tax on all consumers is an example of a flat tax.

Answer 2

1) False - that people can sue you into bankruptcy seems more of a disadvantage

2) True

3) I would think it is a graduated tax. Because rich consumers buy more goods, so will be paying more sales tax. Say 2 people buy cars. You go buy a used economy car and pay 6%, and a billionaire goes out and buys his and her Lamborghini's and pays 6%.

Answer 3

the only one I know for sure is that # 2 is true.....