Question: Which statement about a value - added tax ( VAT ) is TRUE? Question 2 5 options: A value - added tax is an income

Which statement about a value-added tax (VAT) is TRUE?
Question 25 options:
A value-added tax is an income tax
Avoiding a value-added tax is a strong incentive to engage in black market activity
A value-added tax is a consumption tax
A value-added tax taxes goods at each stage of production on the total value of the good at that stage in the production process.

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