Co. RZ has an Income Tax Provision of $10,000 for December. What is the right statement from the below?*

A. This is a Depreciation Expense of $10,000B. This is an Income Tax Liability of $10,000 DebitC. This is an Income Tax Expense of $9,000D. This is an Income Tax Liability of $10,000 Credit

12. How Co. XYZ books Corporate Income Tax Provision of $1,000?*

A. DR Cash $1,000 CR Tax Liability $1,000B. DR Tax Liability $1,000 CR Retained Earnings $1,000C. DR Tax Expense $1,000 CR Tax Liability $1,000D. DR Tax Expense $1,000 CR Account Receivables $1,000

13. Co. AB makes a taxable sale of $100k (gross income) in Timbuktu jurisdiction which VAT rate is set at 16%. What is the accounting entry for this transaction at time of billing?*

A. Dr. Cash; Cr. Input VAT; Cr. RevenueB. Dr. Accounts Payable; Cr. Revenue; Cr. Output VATC. Dr. Account Receivable R; Cr. RevenueD. Dr. Account Receivable; Cr. Output VAT; Cr. Revenue