Business, 05.05.2020 08:23 gloribellduran19

For a company to obtain a retail business license in a particular state, the company is required to pay the state the equivalent of 3 months of sales taxes on its projected retail sales. This amount is fully refundable after 5 years, provided the company has filed all required sales tax returns and paid all sales taxes due. Initially the company should report the payment related to this licensing requirement as:.
A) A current asset.
B) A noncurrent liability.

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