A company receives $95 for merchandise sold to a consumer,of which $5 is for sales tax.The $5 of sales tax:
A) increases sales revenue.
B) increases current liabilities.
C) increases selling expenses.
D) none of the answers are acceptable.
Correct Answer:
Verified
Q36: Payroll deductions are amounts subtracted from employees'
Q37: Under straight-line amortization,when a bond is sold
Q38: Bond retirement is an investing decision.
Q39: If a company records a discount or
Q40: Which of the following methods of amortizing
Q42: Which of the following is a standard
Q43: Accrued liabilities can include all of the
Q44: Travis County Bank agrees to lend Backyard
Q45: At the beginning of the first quarter,your
Q46: Travis County Bank agrees to lend Backyard
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents