Banking, Interest, and Taxation (Grade 10 NSC Matric Mathematical Literacy): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What percentage is VAT charged at in South Africa?
What percentage is VAT charged at in South Africa?
14%
Which of these basic foods is VAT exempt?
Which of these basic foods is VAT exempt?
Tinned pilchards
Which type of fees are VAT exempt?
Which type of fees are VAT exempt?
Educational fees
What does 'VAT inclusive' mean?
What does 'VAT inclusive' mean?
VAT already included
Who ultimately pays VAT in the production chain?
Who ultimately pays VAT in the production chain?
The final consumer
Items cost R 100 (VAT inclusive) + R 20 (exempt). What VAT is charged?
Items cost R 100 (VAT inclusive) + R 20 (exempt). What VAT is charged?
R 14.00
What do asterisks (*) on a till slip usually indicate?
What do asterisks (*) on a till slip usually indicate?
VAT exempt items
Zinhle calculated VAT on the total bill instead of VAT inclusive items only. What mistake did she make?
Zinhle calculated VAT on the total bill instead of VAT inclusive items only. What mistake did she make?
Included exempt items
If a VAT inclusive price is R 114, what is the VAT exclusive amount?
If a VAT inclusive price is R 114, what is the VAT exclusive amount?
R 100.00
Which statement correctly describes VAT exclusive prices?
Which statement correctly describes VAT exclusive prices?
Must add 14% VAT