Carmel Co.earned $20,000 in revenue and paid $15,000 in expenses (that do not include meals and entertainment).How much GST will Carmel remit using the simplified ITC calculation? (Carmel is in a province with 5% GST.)

Name: Carmel Co.earned $20,000 in revenue and paid $15,000 in expenses (that do not include meals and entertainment).How much GST will Carmel remit using the simplified ITC calculation? (Carmel is in a province with 5% GST.)
Brand: Quizplus
Rating: 4.9 (52 reviews)

Question

Quizplus · Accepted Answer

The Answer is B

Carmel CoEarned $20,000 in Revenue and Paid $15,000 in Expenses (That