TF 5. The deposit liability account is debited when it is determined that deposits will not be TF 6. The sales tax liability account is debited when the seller collects sales taxes from TF 7. Income tax payable, as reported on a company's balance sheet, represents the amount that TF 8. The obligation for compensated absences is based on services to be performed by the T F 9. Under IFRS, the obligation for compensated absences should be valued at known future returned. customers is owed to the governmental units employee in the future. wage rates