Day: September 3, 2019

The current standard rate of VAT is . . .

Select ONE answer:

1. 10%
2. 12.5%
3. 17.5%
4. 20%

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Incorrect
2. Incorrect
3. Incorrect
4. Correct – The ‘standard’ rate of VAT varies from time to time. At the time of going to press it is 20%.

 

This work is licensed under a Creative Commons Attribution 4.0 International License.