Income Tax T2

GSTHST

Self Evaluation of your GST/HST (Sales Tax) Knowledge

Any business that expects to have or currently has over $30,000 in sales over the past 4 quarters must be registered for GST and/or HST. About 3.5 million businesses file GST/HST returns in Canada.

This quiz is intended as a self assessment to test your knowledge and areas of improvement. There are 10 questions MCQ’s (multiple choice questions).

Choose your answer to the question and click "Next" to see how you did.

Each correct answer will give you a point and you will be able to see your percentage scored at the end.

When you have completed the test, click 'See Result' to see your results. Good luck!

Self Evaluation of your GST/HST (Sales Tax) Knowledge

At the end of Quiz, Get Results, instantly!

1 / 3

Which financial statement is prepared first?

Balance Sheet

Income Statement

Statement of cash flows

Statement of retained earnings

2 / 3

What is the name of the first trial balance that must be prepared?

Trial balance

Adjusted trial balance

Unadjusted trial balance

Post-closing trial balance

3 / 3

A complete journal entry will always have both a _____

asset and a liability

debit and a credit

revenue and a liability

revenue and a expense

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