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? BDF limited total supplies is $15,000,000. The company is required to register for VAT. 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 $9,000,000. 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 $3,000,00 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? BDF limited total supplies is $15,000,000. The company is required to register for VAT. 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 $9,000,000. The company is 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?
- BDF limited total supplies is $15,000,000. The company is required to register for
VAT.
- 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 $9,000,000. The company is required to register for VAT.
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