Which of the Following Is NOT an Example of an Agency

question 16

Multiple Choice

Which of the following is NOT an example of an agency arrangement where the selling entity would recognise revenue on a net basis?

• A) A travel agent selling an airline ticket to a customer, charging the customer $200 and remitting $180 to the airline.
• B) A supermarket selling groceries to a customer for $110 and remitting $10 GST to the government.
• C) A distributor receiving stock from its supplier on a sale-or-return basis. The sales price per unit is $120 and the cost per unit is $75
• D) A licensed hotel selling keno tickets to customers for $5.00 and remitting $4.50 per ticket to the state gaming authority.

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Definitions:

Craniosacral Division

Parasympathetic division of the autonomic nervous system.

Parasympathetic

Relating to the part of the autonomic nervous system that conserves energy as it slows the heart rate, increases intestinal and gland activity, and relaxes sphincter muscles.

Sympathetic

Pertaining to the part of the autonomic nervous system that typically prepares the body for intense physical activity.

Parasympathetic

The part of the autonomic nervous system responsible for conserving energy as it slows the heart rate, increases intestinal and gland activity, and relaxes sphincter muscles in the gastrointestinal tract.