Which ONE of the following is a tax on the profit made by a private limited company in the UK?
Select ONE answer:
- Value Added Tax
- Distribution Tax
- Income Tax
- Corporation Tax
Show the workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Business Studies KS4 & KS3 classes
The answer is 4
- VAT is a tax on sales.
- Distribution Tax is a tax by the Indian Government
- Income tax is a tax on wages/salaries.
- Correct – Corporation is a tax on profit.
This work is licensed under a Creative Commons Attribution 4.0 International License.