VAT_Revision

VAT_Revision

10th Grade

8 Qs

quiz-placeholder

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VAT_Revision

VAT_Revision

Assessment

Quiz

Education

10th Grade

Medium

Created by

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