define overhead expenses,sales tax,VAT . give one example..
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Overhead Expenses :- Overhead refers to the ongoing business expenses not directly attributed to creating a product or service . overhead is any expense incurred to support the business while not being directly related to a specific product or service.
Sales :- Sales tax is an amount of money, calculated as a percentage, that is added to the cost of a product or service when purchased by a consumer at a retail location. Consumers then pay the combined state and local tax rate every time they make a purchase.
VAT :- A value-added tax is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed.