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Value Added Tax
?
One of the following is a transaction deemed sale under value added tax.
Transfer, use or consumption in the course of business of goods or properties intended for sale or for use in the course of business.
Distribution or transfer to creditors in payment of debt.
Consignment of goods if actual sale is not made within forty (40) days from the date the goods were consigned.
Retirement from or cessation of business with respect to beginning inventories of taxable goods existing as of such retirement or cessation.
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (B)
Distribution or transfer to creditors in payment of debt.
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