What is the full form of "VAT"?
A. Valuable Total Asset
B. Value Added Tax
C. Total Asset Value
D. Value Added Term
Answer: Option B
Solution(By Examveda Team)
Value Added tax (VAT) is a type of indirect tax levied on goods and services for value added at every point of production or distribution cycle, starting from raw materials and going all the way to the final retail purchase. VAT was introduced on April 1, 2005. Under it, the amount of value addition is first identified at each stage, and then tax is levied on the same. Ultimately, the end consumer has to pay the complete VAT while buying goods; buyers at earlier stages of production receive reimbursements of tax they have paid. Because the consumer bears the entire tax, VAT is also a consumption tax.Related Questions on Marketing Abbreviations
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A. Value of Credit
B. Vertical Opinion Channel
C. Visualized Optional Commodity
D. Voice of Customer
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A. Valuable Total Asset
B. Value Added Tax
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A. Virtual Asset Levels
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What is the full form of "TMV"?
A. True Market Value
B. Total Market Value
C. Target Multiplied Variable
D. Tactical Marketing Venture
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