Understanding Value Added Tax (VAT)

Understanding Value Added Tax (VAT)

11th Grade

5 Qs

quiz-placeholder

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Understanding Value Added Tax (VAT)

Understanding Value Added Tax (VAT)

Assessment

Quiz

Other

11th Grade

Practice Problem

Easy

Created by

Chantal Pillai

Used 1+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the standard rate of VAT?

10%

15%

20%

25%

2.

OPEN ENDED QUESTION

3 mins • 1 pt

What are zero-rated items?

Evaluate responses using AI:

OFF

3.

OPEN ENDED QUESTION

3 mins • 1 pt

What items are exempt from VAT?

Evaluate responses using AI:

OFF

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of VAT?

To generate revenue for the government

To regulate prices

To encourage exports

To control inflation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following items is typically exempt from VAT?

Luxury goods

Basic food items

Electronics

Clothing

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