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View Policies Current Attempt in Progress An operating line of credit has the following features except O it is pre-authorized by the bank. O it enables timely payments of current liabilities. O it helps companies manage tempory cash shortfalls. O it does not have a pre-set limit. Save for Later

Question 4 of 11 < View Policies Current Attempt in Progress Which of the following best describes an organization's obligation with respect to sales taxes? O Amount of sales taxes collected on sales by a business must be remitted to the appropriate government. O Amount of sales taxes paid on purchases by a business must be remitted to the appropriate government. O A business never has an obligation to remit sales taxes and all amounts are recorded to revenue. O A business must only remit sales taxes upon request by the appropriate government. Save for Later Attempts: 0 of 1 use

Question1 381 11 G View Policies Current Attempt in Progress Operating line of credit borrowings usually O are credited to a note payable account. O are reported as a non-current liability. O are debited to the cash account and result in a current liability. O are required by all companies. Save for Later Attempts: 0

View Policies Current Attempt in Progress HST (harmonized sales tax) collected by a retailer is recorded by O crediting HST Recoverable. O debiting HST Expense. O crediting HST Payable. O debiting HST Payable. Save for Later

View Policies Current Attempt in Progress Pharoah Company has a December 31 year end. The company received its property tax bill for 2021 on March 1, 2021. According to the bill, taxes of $20400 for the year ended December 31, 2021 are due by April 30, 2021. On April 30, 2021, Pharoah will record which of the following entries? O Dr. Cash: Cr. Property Tax Payable O Dr. Property Tax Payable; Dr. Prepaid Property Tax: Cr. Cash O Dr. Property Tax Expense: Cr. Property Tax Payable O Dr. Property Tax Expense; Cr. Cash Save for Later Attempts: 0 of 1 used Submit Answer