Which Entry Could Be Used When Dealing with Sales Tax

question 176

Multiple Choice

Which entry could be used when dealing with sales tax?

• A)Debit Sales Tax Payable and credit Sales Tax Expense
• B)Debit Sates Tax Expense and credit Sales
• C)Debit Cash and credit Sales Tax Payable
• D)Debit Sales Tax Expense and credit Sales Tax Payable

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Definitions:

Altruistic Punishment

A behavior in which an individual incurs a cost to punish another for a perceived social norm violation, often to uphold societal rules or benefits.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person's use doesn't reduce availability to others.

Moral Judgments

Evaluations or decisions based on the discernment of right and wrong, often influenced by an individual’s ethical beliefs and principles.

Kohlberg

Refers to Lawrence Kohlberg, a psychologist best known for his theory of stages of moral development.