The Agreed Cost of an Item to Be Purchased by a Business

question 49

Multiple Choice

The agreed cost of an item to be purchased by a business on credit is $4,000and 7% provincial sales tax (PST) . When this transaction isrecorded, what amount will be recorded as GST Receivable?

• A)$240 debit
• B)$200 credit
• C)$200 debit
• D)$240 credit
• E)None of these answers is correct.

Learn about the role of myelination in child development.

Understand the factors influencing handedness and artistic development in early childhood.

Understand the basic principles and objectives of tort law.

Distinguish between intentional torts, negligence, and strict liability.

---

Definitions:

Temporal Summation

Summation of the local potential that results when two or more action potentials arrive at a single synapse in rapid succession.

Action Potentials

Electrical impulses that travel along the membrane of a neuron signaling the cell to perform its function.

Synapse

The junction between two nerve cells, where electrical signals are transmitted from one neuron to another.

Sensory Neurons

Nerve cells responsible for converting external stimuli from the organism's environment into internal electrical impulses.