Assume That a Wholesaler Purchased Goods from a Manufacturer Was

question 32

Multiple Choice

Assume that a wholesaler purchased goods from a manufacturer was £34.50 (gross price) , the VAT is 15%, and the VAT paid by the manufacturer was £4.50. The markup on the merchandise is £10. What is the net amount of VAT paid to Customs and Excise under the British system of computing VAT?

• A) £1.5
• B) £5.0
• C) £46
• D) none of the above.

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Definitions:

Sleeplessness-produced Problem

Issues or complications that arise as a direct result of insufficient sleep, such as cognitive impairments or mood disorders.

Concentrating

Concentrating involves focusing one's attention or mental effort on a specific task, object, or activity, often leading to better performance or understanding.

Forgetfulness

A common occurrence of temporary memory lapses or the inability to remember information or experiences, often due to factors like stress, aging, or lack of sleep.

Type A Personality Style

A personality pattern characterized by hostility, cynicism, drivenness, impatience, competitiveness, and ambition.