1.1 The price list given below shows the price for different types of clocks. Study the price list and answer the questions that follow CLOCK A Including VAT: R250 12 11. CLOCK B Excluding VAT: R1 112 1.1.1 What does the acronym VAT stand for (2) 1.1.2 Calculate the cost price of CLOCK A excluding VAT (3) 1.1.3 Determine the total VAT paid for the two clocks (4) ​