Fac1501 Semester 2 2023 2024 Name t Study guides, Class notes & Summaries
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Fac1501 Assignment 5 Semester 2 2023-2024
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Fac1501 Assignment 5 Semester Name the two types of accounting basis used by a vendor to determine the tax payable: - ANS-The Invoice Basis The Payment Basis Original Cash Purchases Invoices (Internal/External Source Document) - ANSExternal Source Documents Original Slips (Internal/External Source Document) - ANS-External Source Documents Output Tax - ANS-VAT charged on the supply of goods and or services. Amount paid to SARS Output Tax is larger than Input Tax - - ANS-the diffe...
