Which of the Following Is Not a Liability

question 49

Multiple Choice

Which of the following is not a liability?

• A) An unused line of credit.
• B) Estimated income taxes.
• C) Sales tax collected from customers.
• D) Advances from customers.

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Definitions:

Tax Burden

The measure of the financial impact of taxes on an individual or entity, often expressed as a percentage of income or revenue.

Sellers

Individuals or entities that offer goods or services for sale to buyers in the marketplace.

Unit

In economics, a unit can refer to a single item or product which can be quantified and measured.

Tax Per Unit

A specific charge levied on each unit of a product or service, often used by governments to regulate consumption or raise revenue.