REVIEWER PARA SA ACCOUNTING

The merchandise inventory at

the beginning of the accounting period is called the?

• beginning inventory

• last inventory

• medial inventory

• start inventory

The merchandise inventory at the end of the

accounting period is the called the

is a tax on the value added to the purchase

price or cost in the sale or lease of goods, property or services

in the course of the trade or business.

is the VAT paid on the domestic purchases or VAT

paid on the importation of goods and services by the taxpayer.

is the VAT passed on to customers or clients by

a VAT taxpayer on his/her sales to customers.

refers to the price of the product or services

that does not include the Value-added Tax (VAT).

a term used to indicate that the price of the

product or services includes the Value-added Tax (VAT).

It is imposed on the

value added in each stage of distribution.

• vat - excluded

• Vat- included

• value-added tax

• input vat

It is an indirect tax

that may shifted or passed on to the buyer, transferee or lessee

of the goods, property or services.

• value-added tax

• input tax

• tax-included

• output tax

Whenever you BUY there is

an ?