Question: Which statement is true about GST Question 15 options: GST collected is calculated as 5% of applicable expenses. GST paid is money collected by the

Which statement is true about GST

Question 15 options:

GST collected is calculated as 5% of applicable expenses.

GST paid is money collected by the company that will have to be returned to CRA.

If GST payable (owning) is negative, it means that the company will receive money back from CRA.

GST payable (owning) is calculated as 5% of sales.

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