Name: ______________________ Score: _______________

Section: _____________________ Teacher: _____________

I. True or False (20 pts.)

1. Additional exemption for 3 qualified dependents will amount to P 100,000.
2. In general, the minimum wage earner is not taxable.
3. PCSO winnings are taxable.
4. A corporation could claim a personal exemption.
5. A corporation could claim additional exemption.
6. Estate tax is paid by the taxpayer only on certain transactions of documents.
7. 13th month and other benefits not exceeding 98,000 are non-taxable.
8. Bad Debts are receivables that are already worth less.
9. Additional Exemption in the taxpayer’s child (Legitimate, illegitimate)
10. PWD and senior citizens are not qualified as dependents.
11. A Filipino citizen residing in the Philippines has levied taxes for income derived from the Philippines
only.
12. Income tax on the net income or the entire income realized in one taxable year.
13. The Philippine individual income tax is characterized by increasing the tax rate as the tax base
increases.
14. The first P 250,000 of income is not taxable
15. in substituted filing, the employer files the BIR Form 1700 for their employees.
16. A taxpayer that derived income solely from business is required to file BIR Form 1700.
17. Optional standard deduction schemes allows the business to claim a deduction of 40% of gross sales.
18. A mixed-income earner is a taxpayer who is engaged in business and in the practice of the
profession.
19. A taxpayer deriving mixed income will also use BIR Form 1701.
20. The Internal Revenue Service is the primary implementing agency in charge of tax collections in the
Philippines.

II. Multiple Choice Problems (10 pts.)

Elisa Cruz generated an annual compensation income of ₱ 455,000, net of statutory payments. Tax-
exempt 13th-month pay and other bonuses – ₱ 30,000. Determine the tax due to Elisa Cruz based on the
following possible tax status of Jacqueline:

21. Elisa is single with no dependents.

a. 80,000 c.87,500
b. 53,750 d. 89,000
22. Elisa is single with one qualified dependent.
a. 80,000 c.87,500
b. 53,750 d. 89,000
23. Elisa is married with one qualified dependent
a. 80,000 c.87,500
b. 53,750 d. 89,000
24. Elisa is married with three qualified dependents.
a. 80,000 c.65,000
b. 53,750 d. 57,500
25. Elisa is married with five dependents.
a. 80,000 c.65,000
b. 53,750 d. 57,500

Jack Ma is a project consultant. Total project fees earned during the year amounted to P853,000. Jack
opted to use the optional standard deduction of 40%. Determine the tax due to Jack Ma based on the
following possible tax status of Jack:

26-27. Jack is single with no dependents.

a. 113,540 c.91,040
b. 106,040 d. 88,040
28-29. Jack is married with one qualified dependent.
a. 113,540 c.91,040
b. 106,040 d. 88,040
30. Jack is married with three qualified dependents.
a. 113,540 c.91,040
b. 106,040 d. 88,040