Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A registered charity in a non-participating province has a used clothing store. Revenues from the store for the year total $40,000. Which of the following

A registered charity in a non-participating province has a used clothing store. Revenues from the store for the year total $40,000. Which of the following statements is correct?

The charity will have to collect GST on their clothing sales on revenues greater than a $30,000 small supplier exemption.

The charity will not have to collect any GST on their clothing sales.

The charity cannot claim input tax credits.

The charity will have to collect GST on all of their clothing sales.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dyslexia A Practitioners Handbook

Authors: Gavin Reid

5th Edition

1118980107, 9781118980101

More Books

Students also viewed these Accounting questions

Question

Will something truly bad happen if I dont follow this value?

Answered: 1 week ago

Question

LO3 Describe the two most common methods of applying for a job.

Answered: 1 week ago

Question

LO1 Explain the strategic importance of the recruitment function.

Answered: 1 week ago