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The Purpose of the Quick Method of Accounting for GST/HST

question 69

True/False

The purpose of the quick method of accounting for GST/HST is to save money.


Definitions:

Appropriation

The process of setting aside funds for a specific use or purpose by a company, organization, or government.

Corporation's Affairs

The various activities, decisions, and policies related to the management and operation of a corporation.

Stockholders' Equity

The remaining interest in a company's assets after all liabilities have been subtracted, symbolizing ownership stake.

Bylaws

Regulations, rules, or laws adopted by an association or corporation to govern its actions and affairs.

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