All of the following but one represent collections for third parties. Which one of the following is not a collection for a third party?
A) Sales tax payable.
B) Customer deposits.
C) Employee insurance deductions.
D) Social security taxes deductions.

Question

Quizplus · Accepted Answer

Customer deposits are funds given by customers as a guarantee for future services or products and are not collected on behalf of a third party. In contrast, sales tax payable, employee insurance deductions, and social security taxes deductions are all collected by a business on behalf of governmental entities or insurance providers, making them collections for third parties.

All of the Following but One Represent Collections for Third