Professional Documents
Culture Documents
a. Collected
b. Earned
c. Contracted
d. Rapidly available for use
a. General journal
b. General ledger
c. T-account
d. Income statement
a. Accounts receivable.
b. Accounts payable.
c. Sales.
d. Cash.
INCOME TAXATION a. I is true
b. II is true
1. The point at which tax is levied is also called : c. I and II are true
a. Impact of taxation d. I and II are not true
b. Situs of taxation 9. Which is mandatorily observed in implementing
c. Incidence of taxation police power?
d. Assessment a. Public interest.
b. Just Compensations
2. Which of the following inappropriately describes the c. Both a and b
nature of taxation? d. All of these
a. Inherent in sovereignty
b. Essentially a legislative function 10. Licensing of business or profession is an exercise of
c. Subject to inherent and constitutional limitation a. Police power
d. Generally for public purpose b. Taxation
c. Eminent domain
3. Which is CORRECT? d. All of these
a. Tax condonation is a general pardon granted by the
government.
b. The BIR has five deputy commissioners.
c. The government can still collect tax in disregard of a
constitutional limitation because taxes are the lifeblood
of the government.
d. The President of the Philippines can change tariff
or imposts without necessity of calling Congress to
pass a law for that purpose.