menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting A Career Approach
  4. Exam
    Exam 9: Sales and Purchases
  5. Question
    A Liability Account Used to Record Sales Tax Collected and Owed
Solved

A Liability Account Used to Record Sales Tax Collected and Owed

Question 41

Question 41

Multiple Choice

A liability account used to record sales tax collected and owed:


A) Sales Tax Expense
B) Sales Tax Payable
C) Merchandise Tax
D) Prepaid Taxes

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q36: Which of the following is an example

Q37: Assuming the use of special journals, the

Q38: Azure Company uses the perpetual inventory system.

Q39: After posting the total goods sold on

Q40: Transactions in the sales journal are posted

Q42: Merchandising companies include<br>A) Wholesales<br>B) Retailers<br>C) Both A

Q43: Match the terms below with the correct

Q44: A subsidiary ledger that contains individual accounts

Q45: A form used by business to inform

Q46: Entries in the purchases journal are posted

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines