VAT Quiz

VAT Quiz

12th Grade

15 Qs

quiz-placeholder

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VAT Quiz

VAT Quiz

Assessment

Quiz

Other

12th Grade

Easy

Created by

Adele Curran

Used 6+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does VAT stand for?

Value Added Tax

Variable Added Tax

Value Assessed Tax

Variable Assessment Tax

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who charges VAT to the buyer?

The seller

The government

The buyer

The bank

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the VAT collected by the seller?

It is paid to the government

It is kept by the seller

It is refunded to the buyer

It is donated to charity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of tax is VAT considered?

Indirect tax

Direct tax

Income tax

Corporate tax

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the responsibilities of HMRC?

Collection of taxes

Healthcare services

Education policies

Transportation management

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What regulatory regime does HMRC administer?

National minimum wage

Environmental protection

Public health

Transportation safety

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a responsibility of HMRC?

Managing public transportation

Collection of taxes

Payment of state support

Administration of national minimum wage

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