Sales taxes payable is reported as a(n) :
A) Estimated liability.
B) Contingent liability.
C) Current liability.
D) Business expense.
E) Long-term asset.
Correct Answer:
Verified
Q1: A contingent liability is:
A)Always of a specific
Q7: In order to be reported,liabilities must:
A)Be certain.
B)Sometimes
Q14: Obligations to be paid within one year
Q30: Obligations not expected to be paid within
Q31: Amounts received in advance from customers for
Q47: Companies with many employees rarely use a
Q50: If a company has advance ticket sales
Q52: Debt guarantees are:
A)Never disclosed in the financial
Q54: Accounts payable are:
A)Amounts owed to suppliers for
Q80: Gross pay is:
A) Take-home pay.
B) Total compensation
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