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Author Question: The basic concept of the quick method of accounting for GST/HST is best described as follows: (Read 148 times)

justinmsk

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The basic concept of the quick method of accounting for GST/HST is best described as follows:
◦ The quick method allows a small company to pay as little tax as possible.
◦ Only small companies with total sales of less then $150,000 can use the quick method.
◦ A small company with large capital purchases should always avoid using the quick method.
◦ A smaller company will remit about as much tax as they would if detailed records were maintained.


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Marked as best answer by justinmsk on Nov 11, 2019

adf223

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justinmsk

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Reply 2 on: Nov 11, 2019
Thanks for the timely response, appreciate it


daiying98

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Reply 3 on: Yesterday
Excellent

 

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