When a Company Is Obligated for Sales Taxes Payable,it Is

question 78

Multiple Choice

When a company is obligated for sales taxes payable,it is reported as a(n) :

• A)Estimated liability.
• B)Contingent liability.
• C)Current liability.
• D)Business expense.
• E)Long-term liability.

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Definitions:

Brachialis

A muscle located in the upper arm that is involved in flexing the elbow joint.

Supinator

A muscle located in the forearm that rotates the forearm and hand outward, allowing the palm to face upwards.

Deltoid

A large, triangular-shaped muscle covering the shoulder joint that is responsible for rotating and lifting the arm.

Phrenic Nerve

A nerve that originates in the neck and passes down between the lung and heart to reach the diaphragm, crucial for breathing as it controls the diaphragm's movements.