Which of the Following Is Not a Form of Tax

question 6

Multiple Choice

Which of the following is not a form of tax payable to the Federal Government?

• A)Income tax.
• B)Capital gains tax.
• C)Fringe benefits tax.
• D)Payroll tax.

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Definitions:

Accounts Payable Turnover Ratio

A financial efficiency ratio that measures how many times a company pays off its suppliers during a specific period.

Interest Expense

The cost incurred by an entity for borrowed funds, shown as an expense on the income statement.

Interest Payable

A liability account representing the amount of interest expense that has been incurred but not yet paid by the company.

Current Liability

A liability that is expected to be paid off within a year's time or within the normal operating cycle of a business.