Question
If the closing balance of the VAT input account and VAT output account for the month ended 31 December 20.20 amount to R4 566 and
If the closing balance of the VAT input account and VAT output account for the month ended 31 December 20.20 amount to R4 566 and R16 780, respectively. Is the following statement true or false about the VAT control account for the month ended 31 December 20.20. The VAT control account will reflect a refund of R12 214.
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Governmental Accounting Auditing And Financial Reporting
Authors: Michele Mark Levine, Todd Buikema
10th Edition
0891250107, 978-0891250104
