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  3. Study Set
    Financial Accounting Reporting Analysis
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    Exam 4: Inventories
  5. Question
    When a Retailer Makes a Sale to a Customer, the Amount
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When a Retailer Makes a Sale to a Customer, the Amount

Question 3

Question 3

Multiple Choice

When a retailer makes a sale to a customer, the amount of GST that needs to be remitted to the Australian Taxation Office from the sale is determined by taking the total sale amount including GST and:


A) multiplying by 11.
B) dividing by 11.
C) subtracting 10%.
D) adding 10%.

Correct Answer:

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