VAT ON IMPORATION OF GOODS AND ACCOUNTING FOR VALUE-ADDED TAX

VAT ON IMPORATION OF GOODS AND ACCOUNTING FOR VALUE-ADDED TAX

2nd Grade

10 Qs

quiz-placeholder

Similar activities

Oryantasyon

Oryantasyon

1st - 3rd Grade

11 Qs

Costs and Revenues

Costs and Revenues

1st - 3rd Grade

10 Qs

APPLIED BUSINESS TOOLS GAME QUIZ

APPLIED BUSINESS TOOLS GAME QUIZ

1st - 3rd Grade

15 Qs

Test of Vocab 13

Test of Vocab 13

2nd Grade

10 Qs

Famous companies

Famous companies

1st - 11th Grade

11 Qs

Click To Achieve

Click To Achieve

1st - 5th Grade

10 Qs

PRODUCT DEVELOPMENT PROCESS

PRODUCT DEVELOPMENT PROCESS

1st - 3rd Grade

15 Qs

Day 3 Recap - Return & Refund

Day 3 Recap - Return & Refund

1st - 5th Grade

12 Qs

VAT ON IMPORATION OF GOODS AND ACCOUNTING FOR VALUE-ADDED TAX

VAT ON IMPORATION OF GOODS AND ACCOUNTING FOR VALUE-ADDED TAX

Assessment

Quiz

Business

2nd Grade

Medium

Created by

Alona Navarro

Used 17+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. Importations of goods are subject or to value-added tax whether the imported are to be used in business or not.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Importations of goods are always subject to value-added tax whether the goods imported are to be used in business, for sale in the Philippines, or for personal use.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. Importation of goods is subject to value-added tax but the tax rate is 0%.

FALSE

TRUE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Not included in the tax base on importation of goods

WHARFAGE DUES

ARRASTRE CHARGES

FACILITATION FEE

BROKERAGE FEE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. Robin P. imported a car from the U.S.A for his personal use. Total landed cost is P250,000, including customs duties of P50,000. VAT payables is?

25,000

20,000

30,000

None, because the importation is for personal use.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

6. Importation of books, newspaper, magazines review or bulletin is subject to value-added tax

FALSE

TRUE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. As a rule, the VAT account title that will appear in the balance sheet shall be..

A. Output tax

C. VAT payable

D. Excess tax carry over

B. Input tax

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?