Prelims 56%

3/8/2019

Question 1 Not yet answered Marked out of  1.00

Prelims

Tax avoidance is the use by the tax payer of legal or fraudulent means to avoid or defeat taxes Select one: a. True, true b. False, true c. False, false d. True, false

Question 2 Not yet answered Marked out of  1.00

Which of the following statements is correct? Select one: a. Income tax is indirect tax b. One of the nature of taxation is the reciprocal duties of protection and support between state c. Every sovereign government has the inherent power of tax d. The president is authorized to increase or decrease national internal revenue taxes rate

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3/8/2019 Question 3

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Prelims

Statement 1: an ordinance imposing a tax on the manufactures of soft drinks and another tax on the sale of the soft drinks constitute double taxation. Statement 2: A criminal case for tax evasion maybe filled against taxpayers even without prior assessment issued by the Commissioners of Internal Revenue. Which of the following statement is false? Select one: a. Statement 2: A criminal case for tax evasion maybe filled against taxpayers even without prior assessment issued by the Commissioners of Internal Revenue only. b. Neither the given choices are correct c. Statement 1: an ordinance imposing a tax on the manufactures of soft drinks and another tax on the sale of  the soft drinks constitute double taxation only. d. Both of the given choices are correct

Question 4 Not yet answered Marked out of  1.00

Which of the following does not fall within the powers and duties of the Bureau of Internal Revenue? Select one: a. To execute judgments in all cases decided in its favor by the Court of Tax Appeals and the ordinary courts. b. To assess and collect all national internal revenue taxes, fees, and charges. c. To summon, examine and take testimony of persons. d. To enforce all forfeitures, penalties, and fines connected with the assessment and collection functions.

Question 5 Not yet answered Marked out of  1.00

The aspects of taxation are Select one: a. Legislative in character  b. Judicial in character  c. Executive in character  d. Shared by the legislative and executive departments.

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3/8/2019 Question 6

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Prelims

I. The power of taxation is inherent in sovereignty being essential to the existence of every government. Hence, even if not mentioned in the Constitution the state can still exercise the power and is i s essentially a legislative function. II. Even in the absence of any constitutional provision, taxation power falls to Congress as part of the general power of lawmaking Select one: a. True, false b. False, true c. True, true d. False, false

Question 7

The taxable income of Ms. Lee is:

Not yet answered Marked out of  1.00

Select one: a. P188,200 b. P240,000 c. P165,000 d. P190,000

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3/8/2019 Question 8

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Prelims

Saint Anthony College (SAC) is non-stock, non-profit educational institution. It owns a 5 hectares lot one half of which is being used as its school campus while the other half is vacant. To cope with the increasing operating costs and to upgrade its facilities, SAC plans to do the following effective January 1, 2017: (1) Rent out to a marketing firm the vacant portion of the lot. (2) Increase tuition fees by 10% in accordance with government regulations: and (3) Import 20 sets of computers for use in its computer courses. Which of the following is answerable by "yes" Select one: a. Is SAC subject to real estate tax one-half portion to be rented out to the business establishment? establishment? b. Will it subject to customs duties on the importation of the computers? c. Will the increase in tuition fees be subject to income tax, if it results to a net income from school operation? d. Will it be exempt from income tax on its rental to the marketing firm?

Question 9 Not yet answered Marked out of  1.00

The taxable income of Mr. Dy is: Select one: a. P280,000 b. P255,000 c. P278,200 d. P253,200

Question 10 Not yet answered Marked out of  1.00

Taxation as distinguished from police power and power of eminent domain. Select one: a. Property is taken to promote the general welfare b. Maybe exercised only by the government c. There are generally no limits as to the amount that may be imposed d. Operates upon the whole citizenry

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3/8/2019 Question 11

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Which of the following statement is wrong? A revenue bill:

Prelims

Select one: a. Must originate from the House of Representative and on which same bill Senate may propose amendments: b. May have a House version and a Senate version approved separately, and then consolidated, with both houses approving the consolidation consolidation version. c. May be recommended by the President Congress. d. May originate from the Senate and on which same bill the House of Representatives may propose amendments:

Question 12 Not yet answered Marked out of  1.00

I. The property taken in police power is destroyed while the property taken under the power of eminent domain and power of  taxation are not destroyed. II. In power of taxation, the compensation received is the protection afforded to the citizens: in police power the compensation received is the altruistic feelings that somehow you contribute contributed d to the promotion of the general welfare: in power of eminent domain, the compensation received is the just compensation paid for the property taken. Select one: a. False, false b. True, true c. True, false d. False, true

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