Sales Taxes Collected by a Retailer from a Customer Are

question 242

Multiple Choice

Sales taxes collected by a retailer from a customer are expenses

• A)of the retailer.
• B)of the customers.
• C)of the government.
• D)that are not recognized by the retailer until they are submitted to the government.

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Definitions:

Hydromechanical Transmission

A type of transmission that combines hydraulic and mechanical systems to transfer power from the engine to the wheels of a vehicle.

Oil Pump

A component in an engine that circulates oil under pressure to the rotating bearings, sliding pistons, and camshaft of the engine to lubricate the parts.

Torque Converter

A fluid coupling used to transfer rotating power from an engine to the transmission in vehicles.

Planetary Gearset

A complex system of gears that includes a central sun gear, multiple planet gears, and an outer ring gear, used in many automatic transmissions.