If GST Charged Had Been Omitted from a Posted Sales

question 15

Multiple Choice

If GST charged had been omitted from a posted sales invoice you should correct the entry by -

• A)selecting the invoice through the adjusting an invoice screen and selecting the appropriate tax code
• B)correct the posted invoice by entering the corrected version
• C)look up the invoice and reverse it
• D)record a separate entry for the GST charged

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Definitions:

Labor Productivity

The measurement of economic output created per unit of labor input.

Productivity Of Labor

The measure of the output produced per unit of labor; an increase in labor productivity typically means more output is produced with the same amount of labor.

Total Real Output

The total value of all goods and services produced within a country adjusted for inflation or deflation.

Long-Term Growth

A process where the productive capacity of an economy increases over a long period, typically accompanied by higher living standards.