Multiple Choice
Which of the following statements is true?
A) The entries to account for GST are regarded as internal transactions.
B) GST collections is an asset account.
C) If the GST inclusive price of a package of books is $1200 the GST component is $120.
D) In the income statement income and expenses are recorded net of GST.
Correct Answer:
Verified
Correct Answer:
Verified
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