The Debit for a Sales Tax Properly Levied and Paid

question 123

Multiple Choice

The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to

• A) the machinery account.
• B) a separate deferred charge account.
• C) miscellaneous tax expense (which includes all taxes other than those on income).
• D) accumulated depreciation--machinery.

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Definitions:

Cognitive Flexibility

The mental ability to switch between thinking about two different concepts, or to think about multiple concepts simultaneously.

Fluid Intelligence

Mental flexibility as shown in learning rapidly to solve new kinds of problems.

Role Diffusion

A situation where an individual lacks a clear sense of identity or role in society, often explored in Erikson's stages of psychosocial development.

Role Integration

The process of combining multiple societal roles in a harmonious way, allowing for a more balanced and effective functioning within one's social environment.