l',r l',' |5

., 22. The jlCCJr;I-of int:ome artd expense rs permit-ted when the all-events
Iest- has been met-. The a r c''rer'1 j test requires :
j-
*n,. I --..
',rt;,--,( L - .fixing of a right t"o incorne cr liabilityaccura to pay
of the reasonable te determinat-i'on of
[url3;,t..; / 1I - Lhe avai]ab.l1ity
such income or 1iabilitY
a. Only I is correct' c. Bct-fi I and II are correct
b. Only II is correct d. r'lr:, tfrer. I nor I I i,s cor::ect

?.3 . one of the followinE incii-.'i,e-a.I.s shalI be requirecl to file an income

\
.\ tax return-
_l-
a . An individual wh<>se .J r'Jfi5 income d.oes - not exqseq.. his tot-al
,1 \y r\'/
,' 1\

personalandaddrl.cna.exemptionsfordeperidenLs.
b. A mlnimum wage earnef IMWE) or an individualTaxwho is exempL from
l,^'r, L income t-ax pu::suan:' t-o t-he provisions of the Code
c. A marginal incc;ne earner the gross sales orperiod' gross receipts of whom
oR < lc:i- do n-a!- exceed ?iO!,000 during any \Z-month
')o,-tni,* d. An indivrcuai ea:^rii..nc pu::e1.y compensation income but wlto is
a*lpj& concurrentii, er,proyed by 1-wo or more employers aL any time during
, the Laxab:e Year.
B, ",,i . :,,rlij l-1.:r rr..sicleni-.i ,:rl i.'rl\;i it"t 1s;.tllr:l'a for Pr-j,000r000 (Ii'MV w;lit
\: r)(rr:' . T,hi-' J;1 .-,,tr,t6;iis i.i..rl-tl ilile-:r.l t il irrli lrJ rr pf .i ntli6r;rl f on idOnt;r,> irl
:li... lllf(,!rrre(,i t-llrl lili{ will'rirr 0 rI.tV$ from tiir: ri;*t.e of: ttall()
'1

lr- r;llr-l^trir:r,l [.ii li::ii] th() llf rli:letlt15 I,r:'l brrilcl , 11r-rw Prrinr,:[.Pr,rI
-(., ,r,l!-r.1t'w,r.r tite ii:ir( il(il-lSier(trtlLri'I(lo oi lho ,9al€r?
woiriii i.''t,r i'xclnf)t l'rr:rfl lepit't1 ilailrs f,aX
, O "- sittriii.l t,.,y i ,r'r1-,ilirl .JJiiifi l.rlX ol" i)300,001)
v i--. jr)r] i'4
wr,iri,l bt: ::,r1,, je,'t 1.i r:';i1>i. 1.;ll qainr.l f..li{ ()l: l.ll}(lr.Jf [i(]r:1..
fllrI UpL r J,li
p:1 00,000
s:hnrtlr.J rl-e5;rrsit. i,l ,r;jr-rt.(.r\,v 1l-tr',trlf)ttnt- of
r:'il iztrr.rr Jr'ti,l
\
iihiIiF,Pino ini::o{ie taxj lll--- Pl,000,{")()(l
iu.r'c'.:lra rcJer f qr -!, a-t e 8,flyitgll t,--.,1-1!):
zlll t, lli,-(iltl(:-l L,1X 1 2l:, 0t)0
L l){), ()00
{nt.cr r.',r.;t f oI .Lel1 c fi.iyIIr{ jlrr-o-t-?!]!-
:l 01(; i.ni,:omt) tax
!)r:.of rl:isi.ona L tax I00
Gf ave i clncl sanr-l t.ax 20. 000
rr()(), {)t){)
tl ,S,l\ jnr:omr: t-ax j.l'r- l.t)) I
llea I pf ope r Ly t.1 x i-ili il i. ll hi-itrs t, {)00
i.oad. Lrser's t-.;lx on his tJt-r-l ii;i.'rr \1 v,'t Il ,'l 1:{l, ()(l0
l.or-:;rl ilriltllal fixerJ l-;,rX fo.t' lli; r r-lo I i,r,:rrv vanll I 0, ()0()

11. CtrrisLjrrrl M;ic;ir.i.olql hrir:l ;-iii:rr-iifir:c-l in hj.s ret-llrR to dedu*r' fUt.-tttti

ipc{}mit t.lX. }rifj.r;i l,foin qI()gsr i1i:r:Ine, hr:w much iiedue.:tion {'of tdxtr}I;i mdy
shrr i:.1 ;ritn ol1 l-lF.)r 2iltl'-l illr:olir,r?
,t, !!1ri18.1,-,i0{i c. p$Bt), ,]00
tr. f,J 1,81110() rl, F' U0, 3fl0
- i1i, fht trlnafor for tnnq€{tq.i"enr, cqtnll,dcrltLan frll.a undcr tny trf tho
L,,,
fotLowl'ng gl(aap! whi,Eh on*?
-sCInkomplfit*$tl
t, l[rlnlf;r Tn off dctbh
b. Rcvoo;blo trsnnfar
F*ilfii$fi o,EnnoslL powrr of ippointmrnt
e, ifraR[fer ef pf,gparfty j.on
d, Trans f er wJ th retent or reservat-lon of certain rights