Which statement about the value added tax (VAT) calculation type reverse charge VAT is true?

Question

Options

• AThis option creates two G/L entries with the VAT amount that balance to 0 and two VAT
• BThis option is used only by Purchases & Payables transactions and creates two VAT entries
• CThis option creates two G/L entries with the VAT amount that balance to 0 and one VAT entry.
• DThis option is used only by Sales & Receivables and creates two VAT entries with the VAT

• A
  3% (1)
• B
  5% (2)
• C
  83% (33)
• D
  10% (4)

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