A shopkeeper sells an article at its marked price RO 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of RO 180, the input tax is. O a. RO 620 O b. RO 920 O. RO 900 O d. RO 720

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A shopkeeper sells an article at its marked price
RO 7500 and charges sales-tax at the rate of 12%
from the customer. If the shopkeeper pays a VAT
of RO 180, the input tax is.
O a. RO 620
O b. RO 920
O. RO 900
O d. RO 720
Transcribed Image Text:A shopkeeper sells an article at its marked price RO 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of RO 180, the input tax is. O a. RO 620 O b. RO 920 O. RO 900 O d. RO 720
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