Which entity is used to define sales tax percentages or amounts?

The correct answer is D. Sales tax codes. When you set up sales tax codes, you define the amounts or percentages that must be collected. You also define the various methods by which those amounts or percentages are applied to transaction amounts.

Set up and Configure the General Ledger

Question

Options

ASales tax groups
BSales tax authorities
CItem sales tax groups
DSales tax codes

How the community answered

(29 responses)

A
14% (4)
B
3% (1)
C
3% (1)
D
79% (23)

Explanation

When you set up sales tax codes, you define the amounts or percentages that must be collected. You also define the various methods by which those amounts or percentages are applied to transaction amounts.

Topics

#sales tax codes#sales tax percentages#tax entities#tax configuration

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