Why Might GST Amounts in the Ledger Differ from the GST

question 42

Multiple Choice

Why might GST amounts in the ledger differ from the GST report -

• A)GST paid is recorded from the total in the purchases journal
• B)there is an outstanding GST account balance before the first journal entry
• C)GST charged is recorded from the sales journal
• D)the GST ledger and GST report are always in balance

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Definitions:

Early Retirement

An option allowing individuals to retire before the traditional retirement age, often with specific pension or benefits arrangements.

Labor Surplus

A situation in which the supply of workers exceeds the demand for labor, leading to unemployment or underemployment.

Labor Surplus

A situation where the supply of labor exceeds the demand for labor, often leading to unemployment or underemployment.

Natural Attrition

The process of reducing the workforce through voluntary means, such as retirement or resignation, rather than layoffs or firings.