Bobs Bites Has an HST Recoverable Amount of $ 15,000

question 137

Multiple Choice

Bobs Bites has an HST Recoverable amount of $ 15,000 and an HST Payable amount of $ 10,000 at the end of the quarter. What should they do?

• A) Pay the amount of HST payable of $ 10,000 and request a refund of $ 15,000.
• B) File the quarterly return and request a refund of $ 5,000.
• C) Pay the amount of HST payable of $ 10,000.
• D) Delay filing their quarterly return until the next quarter when additional HST payable amounts are expected to offset the recoverable amount.

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Definitions:

Prioritizing Tasks

The process of determining the order of importance of tasks to ensure that the most critical or time-sensitive tasks are completed first.

Self Evaluation

The process of examining one's own performance or qualities, considering personal strengths and weaknesses.

Procrastination

Deliberately putting off tasks.

Study Time

A designated period devoted to learning or academic work, often characterized by focused attention and engagement with educational materials.