Which of the Following Statements Is Correct

question 39

Multiple Choice

Which of the following statements is correct?

• A) Income and expenses are recorded net of GST.
• B) Journal entries to record GST are regarded as internal transactions.
• C) The account, GST Payable, represents the amount of GST payable to the entity's suppliers.
• D) If the GST inclusive price of inventory is $120 the GST component is $12.

---

Definitions:

Neurotransmitter Dopamine

A chemical messenger in the brain that plays roles in movement, motivation, and the pleasure-reward system.

Conditioned Fear Response

A learned fear reaction to a previously neutral stimulus that has been repeatedly presented along with an aversive stimulus.

Id

In psychoanalytic theory, the part of the mind that is the source of instinctive impulses that demand satisfaction.

Pleasure Principle

The driving force of the id that seeks immediate gratification of all desires, wants, and needs.