Question

5) GST collected is an asset : *
1 point
O
True
O False​

Answer 1

Answer:

GST collections is a liability account to accrue GST on sales, and GST outlays is a current asset account to accrue GST on purchases. GST is an accrued current liability when a GST applicable sale, whether cash or credit ,is made. ... The liability account might be called GST collections.

Answer 2

Answer:

false

Explanation:

its not an asset

its a liability