Aco Ltd Mined Diamonds at a Cost of FC 1,000,000

question 13

Multiple Choice

Aco Ltd mined diamonds at a cost of FC 1,000,000 and sold them to Beako for FC 2,500,000. Beako distributed the diamonds to its customers and received FC 4,000,000. If the national VAT is 20%, how much tax did Beako pay on purchase from Aco Ltd.

• A) FC 200,000
• B) FC 500,000
• C) FC 300,000
• D) FC 800,000

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Definitions:

Nasal Septum

The cartilage and bone that separates the nasal cavity into two nostrils.

Inferior Nasal Conchae

Scroll-like bones located within the nasal cavity that increase the surface area for filtering, warming, and humidifying the air we breathe.

Vomer

A thin, flat bone that forms part of the nasal septum, which separates the left and right airways in the nose.

Ethmoid

A spongy bone located at the base of the nasal cavity that separates the nose from the brain.