3. The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to A) miscellaneous tax expense (which includes all taxes other than those on income). B) accumulated depreciation--machinery. C) a separate deferred charge account. D) the machinery account.
3. The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to A) miscellaneous tax expense (which includes all taxes other than those on income). B) accumulated depreciation--machinery. C) a separate deferred charge account. D) the machinery account.
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 1MCQ: The definition of gross income in the tax law is: All items specifically listed as income in the tax...
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3. The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to
A) miscellaneous tax expense (which includes all taxes other than those on income). B)
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