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Sales Tax
Sales tax is a government levy imposed on the sale of goods and services, collected by the seller from the buyer at the point of sale.
Cash Sales
Transactions in which payment is received at the time of sale, typically in cash or equivalent.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to make financial statements comparable across international boundaries.
Liabilities
Liabilities represent obligations that a company owes to external parties, which might include loans, accounts payable, and other debts.
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