The Account That Would Be Credited for the Amount of Tax

question 35

Multiple Choice

The account that would be credited for the amount of tax collected and paid on sales would be

• A) Sales.
• B) Sales Tax Payable.
• C) Cash.
• D) Accounts Payable.

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Definitions:

Delivery Cycle Time

The total time taken from receipt of a customer order to the delivery of the product or service.

Fill Orders

The process of preparing and delivering products or services as per customer requests or purchase orders.

Manufacturing Cycle Efficiency

A performance metric that measures the proportion of value-added time to the total lead time within the manufacturing process.

Fill Orders

This term denotes the process of processing, packaging, and shipping orders to customers.