Multiple Choice – Theory: Part 3 1. Realty dealers, developers or lessors are usually registered as a. Excise taxpayers b.

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ANSWER
C
A
D
D
B
A
B
A
B
D
ed as a. Excise taxpayers b. Percentage taxpayers c. VAT taxpayers d. Any of these 2. Which of these is vatable? a. Properties classified as
atable? a. Properties classified as ordinary assets b. Properties classified as capital assets c. Both A and B d. Neither A nor B 3. Which is ex
B d. Neither A nor B 3. Which is exempt under certain price conditions? a. Residential lot b. Residential dwellings c. Low-cost housing unit d
wellings c. Low-cost housing unit d. All of these 4. The rental limit on residential dwellings does not apply to a. an apartment. b. a house fo
y to a. an apartment. b. a house for rent. c. a dormitory. d. motels. 5. Which carrier has an exemption from business tax? a. Domestic carr
om business tax? a. Domestic carrier b. International carrier c. Both A and B d. Neither A nor B 6. An international carrier is not involved in
ernational carrier is not involved in a. land transport. b. sea transport. c. air transport. d. any of these. 7. An international carrier is owned
An international carrier is owned by a a. Domestic corporation. b. Foreign corporation. c. Either A or B d. Neither A nor B 8. Which of the
d. Neither A nor B 8. Which of the following activities by any carrier