What would be the appropriate account title for funds collected by a sales tax custodial fund?A. Sales tax revenueB. Other financing sourcesC. Additions-tax collections for other governmentsD. Sales taxes receivable

A sales tax custodial fund is a type of fund used by governmental entities to account for and manage…

What would be the appropriate account title for funds collected by a sales tax custodial fund? O A. Sales tax revenue OB. Other financing sources OC. Additions-tax collections for other governments O D. Sales taxes receivable

What would be the appropriate account title for funds collected by a sales tax custodial fund? O A. Sales tax revenue OB. Other financing sources OC. Additions-tax collections for other governments O D. Sales taxes receivable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

What would be the appropriate account title for funds collected by a sales tax custodial fund?
A. Sales tax revenue
B. Other financing sources
C. Additions-tax collections for other governments
D. Sales taxes receivable

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