Value added tax is the tax added to the marked price of an item that is being sold.

True

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False

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Solution

The correct option is A
True

VAT or Value Added Tax is a tax levied by the government on the Sale of goods. The customer has to bear this tax.

The given statement is true.

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Similar questions

Question 65

Sales tax is always calculated on the cost price of an item and is added to the value of the bill.

Question 65

Sales tax is always calculated on the cost price of an item and is added to the value of the bill.

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20

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$ 71.40

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