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  3. Study Set
    Introduction to Financial Accounting
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    Exam 5: Double-Entry Bookkeeping 2: Books of Prime Entry, Accounting Systems and Other Double-Entry Applications
  5. Question
    When a Sale Is Described as Being VAT Inclusive, This
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When a Sale Is Described as Being VAT Inclusive, This

Question 35

Question 35

True/False

When a sale is described as being VAT inclusive, this means that the VAT at a rate of 20% on that sale is calculated by dividing the VAT inclusive figure by 6.

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