Lippman Company Ltd

question 61

Multiple Choice

Lippman Company Ltd. collects 5% GST on sales. If sales are $963,000, the proper accounting includes:

• A)$101,115 credit to Sales.
• B)$48,150 credit to GST Payable.
• C)$48,150 debit to GST Recoverable.
• D)$963,000 debit to Accounts Receivable.

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Definitions:

Cesarean Deliveries

A surgical procedure used to deliver a baby through incisions in the abdomen and uterus.

Postmature Babies

Infants born after the normal gestation period, typically considered to be more than 42 weeks, possibly leading to certain health risks.

Brain Damage

A physical injury or dysfunction of the brain that can result from accidents, medical conditions, or other causes, leading to cognitive, physical, or emotional impairments.

Blood Supply

The provision or transfusion of blood or its components to maintain adequate levels in the body, crucial for delivering nutrients and oxygen, and removing waste products.