NAME:________________________________
3. If the hourly rate of employee A is equal to the
TRUE OR FALSE
1. All employees are required to work overtime.
2. Daily rate is sometimes equal to hourly rate.
3. If the hourly rate of employee A is equal to the
daily rate of employee B, then employee A earns
more than employee B on a daily basis.
4. If an employee worked for 6 hours yesterday and
work 10 hours today, then he will receive an
equivalent to 2-day daily rate.
5. If an employee works on his rest day, then he will
automatically earn an overtime pay.
6. Compensation for injuries or sickness is non
taxable.
7. Prizes and awards exempted by law is not
taxable.
8. Employees salaries and wages is non taxable.
9. Transportation allowances is taxable.
10. Mr. De la Cruz bonus amounting to P200,000.00
is taxable.
11. Gross earnings is sometimes greater than net
income.
12. The total deductions is always equal to the net
earnings
13. Overtime pay is part of deductions.
14. The sum of deductions and the net pay is equals
to the total earnings.
15. If the total deduction is 0, then gross earning is
equal to net earnings.
16. Mrs. Perez 13th month pay amounting to
P30,000.00 is non taxable.
17. Mr. Tan’s retirement pay is non taxable.
18. Mr. Lee’s profit in selling bond in a company
Mr. Tan’s retirement pay is taxable.
19. Angel’s birthday gift Mr. Tan’s retirement pay is
taxable.
20. Life insurance policy Mr. Tan’s retirement pay is
non taxable.
NAME:________________________________
TRUE OR FALSE
1. All employees are required to work overtime.
2. Daily rate is sometimes equal to hourly rate.
daily rate of employee B, then employee A earns
more than employee B on a daily basis.
4. If an employee worked for 6 hours yesterday and
work 10 hours today, then he will receive an
equivalent to 2-day daily rate.
5. If an employee works on his rest day, then he will
automatically earn an overtime pay.
6. Compensation for injuries or sickness is non
taxable.
7. Prizes and awards exempted by law is not
taxable.
8. Employees salaries and wages is non taxable.
9. Transportation allowances is taxable.
10. Mr. De la Cruz bonus amounting to P200,000.00
is taxable.
11. Gross earnings is sometimes greater than net
income.
12. The total deductions is always equal to the net
earnings
13. Overtime pay is part of deductions.
14. The sum of deductions and the net pay is equals
to the total earnings.
15. If the total deduction is 0, then gross earning is
equal to net earnings.
16. Mrs. Perez 13th month pay amounting to
P30,000.00 is non taxable.
17. Mr. Tan’s retirement pay is non taxable.
18. Mr. Lee’s profit in selling bond in a company
Mr. Tan’s retirement pay is taxable.
19. Angel’s birthday gift Mr. Tan’s retirement pay is
taxable.
20. Life insurance policy Mr. Tan’s retirement pay is
non taxable.