Thursday, 25 February 2016

Cima F1 Exam Question No 40

Question No 41:

An entity earns a profit of $60,000 for the year to 31 March 2012. The entity is assessed as owing $15,000 tax for the year. Which ONE of the following types of tax would best describe the tax due?

Capital tax.
Income tax.
Wealth tax.
Consumption tax.

Answer: B

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