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Costs that change in direct proportion to the production volume or units is called variable costs.
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The VAT rate on standard goods and services is 20% (or as per the current applicable rate in your region; please verify).
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Cash sales and services rendered are recorded in the cash journal.
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A bank account with low interest, from which money may be withdrawn without giving notice is called a current account (or checking account in some regions).
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VAT collection from customers for goods sold or services rendered is called output VAT.
Complete the following sentence by writing the missing words
1. Costs that change in direct proportion to the production volume or units is called ___
2. The vat rate on standard goods and services is___
3. Cash sales and services rendered are recorded in the __ journal
4. A bank account with low interest, from which money may be withdrawn without giving notice is called___
5. Vat collection from customers for goods sold or services rendered is called___
1 answer