When each firm is liable for tax on the basis of its total sales, but can claim the taxes already paid by its suppliers as a credit against liability we are using the
A) VAT method.
B) invoice method.
C) reserve method.
D) chain method.
Correct Answer:
Verified
Q15: Consumption taxes are generally viewed as
A)simple to
Q16: For zero-rated items such as prescription drugs,
Q17: Some provinces have replaced their retail sales
Q18: Which of the following is a unit
Q20: A unit tax is
A)less than 0.
B)a percentage
Q21: A publisher sells $400,000 worth of books,
Q23: Throughout this discussion of taxes, there has
Q24: GST is an example of a(n)
A)user fee.
B)value-added
Q29: Under a consumption tax,only current expenditures are
Q34: A differential commodity tax is the same
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