Provincial sales tax payable:
A) Is a contingent liability.
B) Is an estimated liability.
C) Is a business expense.
D) Is a current liability for retailers.
E) All of these answers are correct.
Correct Answer:
Verified
Q46: A combined GST and PST rate of
Q47: Payroll liabilities for current employees are:
A) Current
Q48: The receipt of $6,000 in advance ticket
Q49: Unearned revenue is initially recognized with a:
A)
Q50: An estimated liability:
A) Can be the result
Q52: Which of the following accounting policy is
Q53: Short-term notes payable:
A) Are usually interest bearing.
B)
Q54: Employee vacation benefits:
A) Are estimated liabilities.
B) Are
Q55: Long-term liabilities:
A) Are sometimes reported on the
Q56: A contingent liability:
A) Is a potential obligation
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