Title | QUIZ Chapter 7 Inventories IA 1 2020 Edition |
---|---|
Course | Accountancy |
Institution | Quezon City University |
Pages | 9 |
File Size | 1.7 MB |
File Type | |
Total Downloads | 104 |
Total Views | 255 |
Chapter 7InventoriesNAME: Date: Professor: Section: Score:LONG QUIZ1. A VAT-registered entity purchases inventory. The invoice price of the inventory includes payment for VAT. The entity should a. include the VAT paid as part of the cost of the inventory. b. exclude the VAT paid and record it under ...
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