Examlex
The purpose of interest is to cover the cost of lost opportunity.
Sales Taxes Payable
The amount of sales tax collected from customers that has not yet been remitted to the relevant taxation authority, representing a liability.
Sales Revenue
The sum of money earned from the sales of goods or services that are fundamental to a company's main business activities.
Interest Charged
The cost incurred for borrowing money, calculated as a percentage of the total amount loaned.
Taxing Agency
An agency of the government responsible for the assessment and collection of taxes.
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