VAT_Revision
Quiz
•
Education
•
10th Grade
•
Medium
Miss Wepener
Used 8+ times
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Output VAT is calculated at 15%.
True
False
2.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
If the Input VAT is more than the Output VAT, the business will have to pay VAT to SARS.
True
False
3.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
When purchasing stationery the business will pay
Input VAT
Output VAT
No VAT
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
We purchased trading stock of R996.67, VAT inclusive, calculate the VAT paid.
R866.37
R120
R130
R30
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
SARS
South African Reserve Service
South Africa's Revenue Services
South African Receipts Services
South African Revenue Services
6.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
You have been provided with the VAT amount and you have to calculate the price inclusive of VAT; the calculation to use is:
Amount x 100/15
Amount x 15/100
Amount x 115/15
Amount x 15/115
7.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
The selling price exclusive of VAT is R250. Calculate the amount inclusive VAT
R278,50
R78,50
R87,50
R287,50
8.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Total VAT input = R2 000
Total VAT output = R1 750
VAT payable = R250
VAT payable= R1 750
VAT payable= R2 000
VAT receivable= R250
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