One of the following is not a transaction deemed sale and is therefore not subject to VAT. Which is it? Group of answer choices Distribution or transfer to creditors of goods or properties of a VAT-registered person in payment of debt. Transfer, use or consumption not in the ordinary course of business of goods or properties originally intended for sale or for use in the course of business. Consignment of goods if actual sale is not made within 30 days following the date such goods were consigned. Distribution or transfer to stockholders or investors of goods or properties as share in the profits of a VAT-registered person.
One of the following is not a transaction deemed sale and is therefore not subject to VAT. Which is it? Group of answer choices Distribution or transfer to creditors of goods or properties of a VAT-registered person in payment of debt. Transfer, use or consumption not in the ordinary course of business of goods or properties originally intended for sale or for use in the course of business. Consignment of goods if actual sale is not made within 30 days following the date such goods were consigned. Distribution or transfer to stockholders or investors of goods or properties as share in the profits of a VAT-registered person.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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One of the following is not a transaction deemed sale and is therefore not subject to VAT. Which is it?
Group of answer choices
Distribution or transfer to creditors of goods or properties of a VAT-registered person in payment of debt.
Transfer, use or consumption not in the ordinary course of business of goods or properties originally intended for sale or for use in the course of business.
Consignment of goods if actual sale is not made within 30 days following the date such goods were consigned.
Distribution or transfer to stockholders or investors of goods or properties as share in the profits of a VAT-registered person.
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