A general tax which applies at each point of exchange of goods and service is?

A. a specific tax
B. an ad valorem tax
C. value-added tax
D. direct tax

Correct Answer: Option C

C. value-added tax

Explanation

Value-added tax is a tax on the amount by which the value of an article has been increased at each stage of its production or distribution. A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale.