Sales Taxes Collected by a Company on Behalf of the State

question 33

Multiple Choice

Sales taxes collected by a company on behalf of the state and local government are recorded by:

• A)A debit to an expense account.
• B)A credit to a revenue account.
• C)A debit to a revenue account.
• D)A credit to a liability account.

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Definitions:

Research Hypothesis

An assertive statement predicting a particular relationship between two or more variables in a population being studied.

Vaccinations

Medical procedures that involve administering a vaccine to stimulate an individual's immune system to develop resistance to a specific infectious disease.

Autism

A developmental disorder characterized by difficulties in social interaction and communication, and by restricted or repetitive patterns of thought and behavior.

Non-directional

A hypothesis that specifies a difference or relationship but not the direction, stating only that one doesn't expect to find equality.