MCQOPTIONS
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| 1. |
Value-added tax is |
| A. | ad valorem tax on domestic final consumption collected at all stages between production and the point of final sale |
| B. | ad valorem tax on final consumption collected at manufacturing level |
| C. | tax on final consumption collected at the consumption stage |
| D. | special tax levied by states on products from other states |
| Answer» B. ad valorem tax on final consumption collected at manufacturing level | |