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Value-Added Tax (VAT)

A consumption tax added at each stage of the supply chain, ultimately paid by the end consumer.

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Variable Costs

Expenses that vary in direct proportion to changes in production or sales levels.

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Voidable Contract

A contract that is valid but can be voided or canceled by one of the parties under certain conditions.

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Volume-Based Allocation

Allocating costs based on the volume of goods produced or services provided.

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Volunteer Income Tax Assistance

A program that provides free tax preparation assistance to eligible individuals.