Question: BKB Traders is a registered vendor BKB is an architecture business that offers its services of architectural design to both businesses and individuals BKB pays

 BKB Traders is a registered vendor BKB is an architecture business

BKB Traders is a registered vendor BKB is an architecture business that offers its services of architectural design to both businesses and individuals BKB pays a monthly rental of R20 000 for the office building that it occupies Which one of the following statements is correct? A. BKB Traders does not have to pay VAT output on the R20 000 rent expense because it is exempt. B. BKB Traders can claim input VAT on the R20 000 rent expense C BKB Traders has to pay output VAT on the R20 000 rent expense OD. BKB Traders cannot claim any input VAT on the R20 000 rent expense because it is zero-rated Reset Selection Question 12 of 30 2 Points On 25 March 2019 Tops Traders paid the owner's personal telephone account of R400 with a business cheque Which account will be debited, and which account will be credited in the general ledger? A. The telephone account will be debited, and the bank account will be credited. B. The bank account will be debited, and the telephone account will be credited. c. The grawings account will be debited, and the bank account will be credited. D. The bank account will be debited, and the drawings account will be credited

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!