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I']age 110

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-Ja The total Personal exemPtions of Mr. Caiga for 2011 is:
v)
t a. P150,000 c. P100,000
b. P125, 000 d. None of the choices
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JL The discount on sales given to senior citizen and PWDs is treated for
income tax PurPoses as:'
a. deduction from gross sal-es'
b. deduction'from gross income'
c. deduction from either gross sales or gross income
d. not given any consideration'
53. A senior citizen who is also a PWD:
' a. can claim onlY one discount'
i

b. can claim two discounts, 20% as senior citizen and 20% as PWD'

c. cannot claim anY discount'

d. is a very unforturrate Person'
54. In the purchase of goods and services which have Promotional
t1
'?-t, ' discount, the senior citizen or PWD:
ii l- a. can avail of the promotional discount or the senior citizen/PWD
V1^t S/' hb)/- discount, whichever is--hi:q.her
b. can avail of the promotiona-l- discount or the senior citizen/PWD
discount, whichever i-s Iower'
c. cannot avail the promotional discount nor the senior citizen/PWD
discount.
d. can waive the discount at his dlscretion'
55 d
I P1, 120 . 00
a^q A; I 224.00
1 I e hv PWD before Percentaqe tax
h.l 896. 00
t\ Add: 38 Percentage tax (ejl-t(-13] 26.88
Total amount due P 922.88

Is the sales invoice correct?

a. Yes, because PWDs and senior citizens are not exempt from the
percentage tax.
b. No, because PWDs and senior citizens are exemPt frbm the
percentage tax-
c. Yes, because PWDs and senior citizens are subject to Percentage
tax if t-hey are all-owed the 20% discount'
d. No, because PWDs and senior citizens are not allowed discount
once their purchases are subject to percentage tax.
56 which of the following statements is igcp-rre-ctJ or
a. only the porllsA of the gloss sales exclusively used, consumed
enloyed by t.he PI'iD or senior citizen shal1 be eligible for the
deductible sales discount'
b. The seller must record its sales inclusive of thesales, discount
granted, not as a reduction of sales to arrive at net- but
as deduction f,rom iLs S.rass;jncoee-'
c.. The safes discount sha.l-1 be treated as a necessary, and -arqr4g-!iL
expense duly deductible from the gross income of the sel-}er
faf ti-ng under the cateqory of itemize"d--dedU-C-lle-Ir' -
d. The "u1"" discount shall be accountable as deductible expense for
taxpayers avaiLing the op}+-o*a}--slggQgr4-lsducti.on (oSD)'