Exam BA3 Topic 1 Question 64 Discussion
Actual exam question for CIMA's BA3 exam
Question #: 64
Topic #: 1
Question #: 64
Topic #: 1
Your organization owed VAT of $22,700 at the beginning of the month.
During the month, it sold standard-rated goods with a net value of $600,000. Its purchases and expenses during the same month amounted to $188,000 including VAT. It paid VAT to the Revenue and Customs, of
$33,400. The VAT rate is 17.5%
At the end of the month, the balance on the VAT account was:
During the month, it sold standard-rated goods with a net value of $600,000. Its purchases and expenses during the same month amounted to $188,000 including VAT. It paid VAT to the Revenue and Customs, of
$33,400. The VAT rate is 17.5%
At the end of the month, the balance on the VAT account was:
Suggested Answer: A Vote an answer
by Morgan at Oct 06, 2025, 03:41 AM
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