Which of the Following Would Be Included in the Journal

question 74

Multiple Choice

Which of the following would be included in the journal entry to record the payment of sales tax payable?

• A) a debit to Sales Tax Payable
• B) a credit to Sales Tax Expense
• C) a debit to Sales Tax Expense
• D) a credit to Sales Tax Payable

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Definitions:

Earnings Per Share

A financial ratio that indicates the portion of a company's profit allocated to each outstanding share of common stock, serving as an indicator of the company's profitability.

Dividend Yield

A financial ratio that indicates how much a company pays out in dividends each year relative to its stock price.

Price-Earnings Ratio

A valuation metric that compares a company's current share price to its per-share earnings.

Return On Total Assets

A financial ratio that indicates how effectively a company is using its assets to generate profit, measured by dividing net income by total assets.