BDF Limited as the following supplies: Supplies at standard rate $5,000,000 Supplies at Zero percent $3,000,000 Supplies at 25% $2,000,000 The GCT threshold is $10,000,000 Which of the following statement is correct? a BDF Limited total supplies is $9,000,000. The company is required to register for Vat. b BDF Limited taxable supplies is $7,000,000. The company is not required to register for Vat. c BDF Limited taxable has exempt supplies. The company is not required to register for vat. d BDF Limited total supplies is $15,000,000. The company is required to register for vat.
BDF Limited as the following supplies: Supplies at standard rate $5,000,000 Supplies at Zero percent $3,000,000 Supplies at 25% $2,000,000 The GCT threshold is $10,000,000 Which of the following statement is correct? a BDF Limited total supplies is $9,000,000. The company is required to register for Vat. b BDF Limited taxable supplies is $7,000,000. The company is not required to register for Vat. c BDF Limited taxable has exempt supplies. The company is not required to register for vat. d BDF Limited total supplies is $15,000,000. The company is required to register for vat.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
BDF Limited as the following supplies: Supplies at standard rate $5,000,000 Supplies at Zero percent $3,000,000 Supplies at 25% $2,000,000 The GCT threshold is $10,000,000 Which of the following statement is correct?
a BDF Limited total supplies is $9,000,000. The company is required to register for Vat.
b BDF Limited taxable supplies is $7,000,000. The company is not required to register for Vat.
c BDF Limited taxable has exempt supplies. The company is not required to register for vat.
d BDF Limited total supplies is $15,000,000. The company is required to register for vat.
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