15.Which of the following

statements are false?

(i)VAT is a direct tax charge on the supply of goods and services

(ii)VAT paid on purchases by a trader is known as OUTPUT tax

(iii)The VAT burden is borne by the government

(iv)All businesses must be VAT registered

(A)(i) and (iv)

(B)(i), (ii), (iii) and (iv)

(C)(ii), (iii) and (iv)

(D) (iii) and (iv)

12.If Mary earns OMR 83,200, how much income tax will she pay for 2020/21 if she is entitled to the basic personal allowance?

(A)OMR 14,140

(B)OMR 18,280

(C)OMR 20,780

(D)OMR 28,280

Invoice discounting normally involves:

(A)Offering a cash discount for early settlement of invoices

(B)Selling an invoice to a factoring organisation at a profit

(C)Selling an invoice for cash to a factoring organisation at a discount

(D)Writing off an invoice, partly or in total, as a bad debt