Which One of the Following Is Not Included as an Option

question 10

Multiple Choice

Which one of the following is not included as an option for tax reports -

• A)report on PST
• B)report sales transaction amounts
• C)report purchase transaction amounts
• D)all of the above can be included in tax reports

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Definitions:

Lockbox System

A service provided by banks to process payments quickly by having those payments mailed directly to a location accessible by the bank.

Collection Time

The average period it takes a company to receive payments owed by its customers, reflecting its efficiency in managing credit and collecting debts.

Money Market Securities

Short-term debt instruments issued by governments, financial institutions, or corporations, typically with high credit quality and liquidity.

Collection Float

The interval between the deposit of a check and the availability of the funds in the beneficiary's account.