Value Added Tax

What does the acronym V. A. T. stand for?

• Value And Tax

• Variety Added Tax

• Value Added Tax

• Value Added To

What is the V.A.T. on an item that originally costs $100 if V.A.T. is calculated at 15%?

• $115

• $10

• $5

• $15

How much money would I have to pay for an item with original price of $50, after 15% VAT is added?

• $57.50

• $55.00

• $7.50

• $52.50

Calculate the amount of VAT at 15% which is charged on an item with an original price of $10.00

• $11.50

• $1.50

• $2.00

• $1.75

Sales tax is __________ to the price

• subtracted
• added
• multiplied
• divided

Find the total cost of television with MARKED PRICE = $ 990 T.V. and TAX = 9%

• $ 89.10

• $ 900.90

• $ 1,079.10

• Free

If the total of sales, including VAT at the rate of 10%, amounts to £ 1,800, the total of sales excluding VAT amounts to:

• £1,620

• £1,636

• £1,720

• None of the above.

• The answer has 0.36

The amount of VAT included in goods costing £200, inclusive of VAT at the rate of 21%, is:

• £31.50

• £34.71

• £42.00

• None of the above.

When VAT of 15% is charged on a table, the customer paid $575. What was the cost of the table before VAT was charged?

• $525.00

• $$661.25

• $560.00

• $500.00

Why did the chicken cross the road?

• to go to Burger King

• to go to school

• to get to the other side

• to find his car