When a Business Collects GST from Customers, It Records

question 16

Multiple Choice

When a business collects GST from customers, it records:

• A) a contra asset.
• B) a liability.
• C) an expense.
• D) an asset.

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Definitions:

Peptic Ulcer Disease

A condition where open sores develop on the inside lining of the stomach, upper small intestine, or esophagus, often due to inflammation caused by the bacteria H. pylori, as well as from erosion from stomach acids.

Twisting

The act of winding or rotating around something, could apply to body movements, objects, or materials.

Obstruction

A blockage or impeding condition that can occur in bodily structures, affecting normal flow or function.

Endoscopic Retrograde Cholangiopancreatography

A medical procedure that combines the use of endoscopy and fluoroscopy to diagnose and treat conditions related to the bile ducts, pancreatic duct, and gallbladder.