Sales Taxes Payable

question 14

Multiple Choice

Sales taxes payable:

• A) Is an estimated liability.
• B) Is a contingent liability.
• C) Is a current liability for retailers.
• D) Is a business expense.
• E) Is a long-term liability.

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Definitions:

Customs

Traditional practices or behaviors that are characteristic of a specific society, place, or time, often relating to the conduct of everyday life.

Beliefs

Cognitive representations about the world, oneself, or others, that are accepted by an individual as true or existing.

Evolutionary Psychology

A theoretical approach in the social and natural sciences that examines psychological structure from a modern evolutionary perspective.

Cognitive Strategies

Techniques or methods that individuals use to process information more effectively, enhance memory, and solve problems.