. Fees accepted in advance from a client:

A) Are recorded as liabilities.

B) Increase profit.

C) Are recorded as earned revenues on the income statement.

D) Do not increase assets.

E) None of the above answers are correct.

Harmonized sales tax payable:

A) Is an estimated liability.

B) Is a contingent liability.

C) Is a business expense.

D) Is a current liability.

E) All of the above answers are correct.