BDF limited as the following supplies: Supplies at standard rate $5,000,000 Supplies at Zero percent $3,000,00 Supplies at 25% $2,000,000 Exempt Supplies $5,000,000 The GCT threshold is $10,000,000. Which of the following statement is correct? Question 15Answer a. BDF limited total supplies is $15,000,000 . The company is required to register for VAT. b. BDF limited taxable has exempt supplies . The company is not required to register for VAT. c. BDF limited total supplies is $9,000,000 . The company is required to register for VAT. d. BDF limited taxable supplies is $7,000,000 . The company is not required to register for VAT.
BDF limited as the following supplies: Supplies at standard rate $5,000,000 Supplies at Zero percent $3,000,00 Supplies at 25% $2,000,000 Exempt Supplies $5,000,000 The GCT threshold is $10,000,000. Which of the following statement is correct? Question 15Answer a. BDF limited total supplies is $15,000,000 . The company is required to register for VAT. b. BDF limited taxable has exempt supplies . The company is not required to register for VAT. c. BDF limited total supplies is $9,000,000 . The company is required to register for VAT. d. BDF limited taxable supplies is $7,000,000 . The company is not required to register for VAT.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
BDF limited as the following supplies:
Supplies at standard rate $5,000,000
Supplies at Zero percent $3,000,00
Supplies at 25% $2,000,000
Exempt Supplies $5,000,000
The GCT threshold is $10,000,000.
Which of the following statement is correct?
Question 15Answer
a.
BDF limited total supplies is $15,000,000 . The company is required to register for VAT.
b.
BDF limited taxable has exempt supplies . The company is not required to register for VAT.
c.
BDF limited total supplies is $9,000,000 . The company is required to register for VAT.
d.
BDF limited taxable supplies is $7,000,000 . The company is not required to register for VAT.
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education