Which statement about the value added tax is not accurate? A. It is an important source...
Which statement about the value added tax is not accurate?
A. It is an important source of revenue for many central governments in the European Community.
B. Because the tax is “hidden” in the price of the product, it may encourage higher tax rates than the American retail sales taxes.
C. The value added tax is the sales tax form currently used by the United States government.
D. None of the above—all are accurate.
Homework Answers
Correct Answer:
B
Value added tax is included in the price, but each category of products and services, has clearly mentioned value added tax. So, it is not hidden, rather explicitly declared by the government.
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