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GST Collected on Sales Is Accumulated in a Liability Account

question 38

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GST collected on sales is accumulated in a liability account called GST collections and GST paid on purchases is accumulated in an account with a debit balance called GST outlays. What type of account is GST outlays?


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Colorectal Cancer

A cancer that starts in the colon or rectum, parts of the large intestine, often detected through screening methods like colonoscopy.

Cancer Deaths

Deaths attributed to various types of cancer, a significant global health issue characterized by the uncontrolled growth of abnormal cells.

Liver Cancer

A malignant growth in the liver, one of the major organs involved in metabolic processes and detoxification.

Decreased

A reduction in size, number, value, or extent of something.

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