IIA Exam IIA-CIA-Part3 Topic 4 Question 31 Discussion

Actual exam question for IIA's IIA-CIA-Part3 exam

Question #: 31
Topic #: 4

Under a value-added taxing system:

ABusinesses must pay a tax only if they make a profit.

BThe consumer ultimately bears the cost of the tax through higher prices.

CConsumer savings are discouraged.

DThe amount of value added is the difference between an organization's sales and its cost of goods sold.

Show Suggested Answer

Suggested Answer: B

by Casie at May 09, 2022, 05:49 AM

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