Accounting Multiple Choice Question – 3 September 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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%.

 

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