Quiz  /  GST Class 10 MCQ Questions With Answers

  • 1. 
    GST (tax) credits is classified as;

  • current asset
  • current liability
  • non-current asset
  • non-current liability

  • 2. 
    Another name for GST collected is:

  • GST payables
  • GST tax credits
  • GST credits
  • GST outlay

  • 3. 
    Business report GST to the ATO by using which statement

  • Business Activity Statement
  • Business Asset Statement
  • Buying Activity Statement
  • Building Asset Statement

  • 4. 
    GST is added on in Australia at a rate of what percentage?

  • 5%
  • 7.5%
  • 10%
  • 12.5%

  • 5. 
    Calculate the GST: Paid Garden Bag service $330 GST inclusive

  • $3
  • $30
  • $33
  • $300

  • 6. 
    Calculate the GST owed to the business: GST credits $750, GST payables $400

  • $350
  • $400
  • $750
  • $1,150

  • 7. 
    GST payables is classified as;

  • current asset
  • current liability
  • non-current asset
  • non-current liability

  • 8. 
    GST is known as;

  • Goods and Services Tax
  • Goods and Services Taxation
  • Gold and Services Tax
  • Gold and Sanctions Tax

  • 9. 
    You purchase a new laptop for $500 excluding GST. What is the price including GST?

  • 505
  • 525
  • 50
  • 550

  • 10. 
    You purchase a phone for $220 inclusive of GST. How much GST are you paying?

  • 22
  • 20
  • 21
  • 200

  • 11. 
    To register for GST a business needs to earn $_____ in annual sales

  • $25,000
  • $50,000
  • $75,000
  • $100,000

  • 12. 
    Calculate the GST owed to the ATO: GST credits $150, GST payables $200

  • $50
  • $150
  • $200
  • $350

  • 13. 
    Calculate the GST: Purchased a car for $20,000 GST exclusive

  • $200
  • $220
  • $2,000
  • $2,200

  • 14. 
    When was the GST introduced in Australia?

  • 1 June 2000
  • 1 July 2000
  • 1 September 2000
  • 1 July 1999

  • 15. 
    Identify the type of GST described: "those goods and services that are subject to GST"

  • Taxable supplies
  • GST-free supplies
  • Input taxed supplies

  • 16. 
    What type of GST applies for: furniture?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 17. 
    What type of GST applies for: commercial rent?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 18. 
    What type of GST applies for: health services?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 19. 
    What type of GST applies for: interest?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 20. 
    What type of GST applies for: restaurant food?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 21. 
    What type of GST applies for: basic food?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 22. 
    What type of GST applies for: bank charges?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 23. 
    What type of GST applies for: sale of residential premises?

  • taxable supply
  • GST-free supply
  • input taxed supply

  • 24. 
    What type of GST applies for: residential rent?

  • taxable supply
  • GST-free supply
  • input taxed supply
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