TAX-6148 - Income Taxation oed answer key
Showing 1 to 20 of 75 total answers.
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Awesome StudentQuestion • Income Taxation
Tips are taxable.
Answer
TRUECorrect
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Awesome StudentQuestion • Income Taxation
Distinctions of Income
Answer
Capital, Revenue, ReceiptsCorrect
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Awesome StudentQuestion • Income Taxation
Select the right answer.
Answer
Installment of payments. → Annuities, Reward for an event. → Winning, By month. → Salary, Illegal source of income → Embezzlement, Reward for a contest. → Prize, By hour, day, week. → Wage, Allowance on his retirement. → Pension, Amount of wealth plus savings and earnings. → Income, Leasehold improvement is recognized. → Outright Method, Total earnings from whatever source. → Gross Income
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Awesome StudentQuestion • Income Taxation
Who is the BIR Commissioner?
Answer
Commissioner Caesar R DulayCorrect
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Awesome StudentQuestion • Income Taxation
All damage recoveries are not taxable.
Answer
TRUECorrect
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Awesome StudentQuestion • Income Taxation
Income that is not realized is taxable.
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Awesome StudentQuestion • Income Taxation
The following are business taxes except
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Awesome StudentQuestion • Income Taxation
Which statement is wrong? A revenue bill
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Awesome StudentQuestion • Income Taxation
All of the following are not taxes except
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Awesome StudentQuestion • Income Taxation
It is twenty five percent (25%) surcharge.
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Awesome StudentQuestion • Income Taxation
Where are the sources of Income come from?
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Awesome StudentQuestion • Income Taxation
Taxes collected by the BIR are local taxes.
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Awesome StudentQuestion • Income Taxation
Tax exemption is transferable and assignable.
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Awesome StudentQuestion • Income Taxation
An increase in the value of property is income.
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Awesome StudentQuestion • Income Taxation
It terminates or condenses the taxpayer's period.
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Awesome StudentQuestion • Income Taxation
Gross income includes other income from other sources.
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Awesome StudentQuestion • Income Taxation
Which of the following nature of laws describes tax laws?
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Awesome StudentQuestion • Income Taxation
Most taxpayers elect to report income in a fiscal year basis.
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Awesome StudentQuestion • Income Taxation