Question: Which statement is wrong? 1. VAT equates Revenue multiplied by 20 %. 2. VAT equates Revenue divided by 5. 3. VAT equates Proceeds divided by

Which statement is wrong?

1. VAT equates Revenue multiplied by 20 %.

2. VAT equates Revenue divided by 5.

3. VAT equates Proceeds divided by 6.

4. VAT equates Revenue divided by 6.

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