Multiple Choice
Which of the following is not a correct statement about sales taxes?
A) Sales taxes are an expense of the seller.
B) Many companies record sales taxes in the sales account.
C) If sales taxes are included in the sales account, the first step to find the amount of sales taxes is to divide sales by 1 plus the sales tax rate.
D) Sales Taxes Payable is classified as a current liability.
Correct Answer:
Verified
Correct Answer:
Verified
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