Question 10 of 30 Which one of the following is NOT a method used to value inventory? A. Reducing-balance method B. Last-in, first-out (LIFO) method C. First-in, first-out (FIFO) method D. Weighted average method Reset Selection Question 11 of 30 2 Points BKB Traders is a registered vendor. BKB is an architecture business that offers its services of architectural design to both businesses and individuals, BKB pays a monthly rental of R20 000 for the office building that it occupies. Which one of the following statements is correct? A. BKB Traders does not have to pay VAT output on the R20 000 rent expense because it is exempt. B. BKB Traders can claim input VAT on the R20 000 rent expense. C. BKB Traders has to pay output VAT on the R20 000 rent expense. D. OB Traders cannot claim any input VAT on the R20 000 rent expense because it is zero-rated. Reset Selection Question 12 of 30 2 Points On 25 March 2019 Tops Traders paid the owner's personal telephone account of R400 with a business cheque. Which account will be debited, and which account will be credited in the general ledger? A. The telephone account will be debited, and the bank account will be credited. B. The bank account will be debited, and the telephone account will be credited. C. The drawings account will be debited, and the bank account will be credited. D. The bank account will be debited, and the drawings account will be credited. Reset Selection 2 Points