There Are Three Production Stages Required Before a Bicycle Produced

question 55

Multiple Choice

There are three production stages required before a bicycle produced by Masi Bicicletia S.A.can be sold at retail for €4,500.The VAT rate is 15%.Find the total tax liability due. $\begin{array}{crc}\text { Production stage } & \text { Selling price } & \text { Value Added }& \text { Incremental VAT } \\1 & € 1,000 & \\2 & € 2,750 \\3 & € 4,500\end{array}$

• A)€525
• B)€675
• C)€3,500
• D)None of the above

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Definitions:

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Black Panthers

A revolutionary Black nationalist and socialist organization founded in 1966 that aimed to challenge police brutality and racial injustice.

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