When a Company Is Obligated for Sales Taxes Payable,it Is

question 78

Multiple Choice

When a company is obligated for sales taxes payable,it is reported as a(n) :

• A)Estimated liability.
• B)Contingent liability.
• C)Current liability.
• D)Business expense.
• E)Long-term liability.

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Definitions:

Refrigerator

An electrical appliance used to keep food and drinks cold, preserving their freshness over a longer period.

Medical Record

A comprehensive document containing the history, diagnosis, treatment, and outcome of a patient's healthcare management.

Examination Room

A room in a healthcare facility where medical examinations, procedures, or consultations take place.

Temperature Setting

The act of adjusting or regulating the degree of heat or cold of a space or device to a desired level.