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Value Added Tax

?

For purposes of claiming input vat on depreciable assets, the aggregate acquisition cost of a depreciable asset in any calendar month refers to the:

Total price agreed upon for one or more assets acquired during the calendar month.
Payments actually made during the calendar month.
Total price agreed upon for one asset only acquired during the calendar month.
Initial payments made if purchased on installment plan.

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (A)
Total price agreed upon for one or more assets acquired during the calendar month.

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