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TAX 2018

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TAX 2018
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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following statements relating to taxes and taxation is incorrect?

Taxes may be imposed to raise revenues or to provide disincentives to certain activities with the state.
The state can have the power of taxation even if the Constitution does not expressly give it the power to tax.
For the exercise of the power of taxation, the state can tax anything at any time.
The provisions of taxation in the Philippine Constitution are grants of power and not limitations on taxing powers.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One of the characteristics of internal revenue laws is that they are:

Criminal in nature
Penal in nature
Political in nature
Generally prospective in application

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In case of conflict between tax laws and generally accepted accounting principles (GAAP):

Both tax laws and GAAP shall be enforced.
GAAP shall prevail over tax laws.
Tax laws shall prevail over GAAP.
The issue shall be resolved by the courts.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One of the characteristics of tax is that it is generally

based on contract
payable in money
assignable
payable in money or in kind

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who is not a Philippine income tax payer?

A resident citizen of the Philippines with income from within and outside the Philippines.
A resident citizen of the Philippines with income from within the Philippines only.
A non-resident citizen of the Philippines with income from outside the Philippines only.
A non-citizen of the Philippines with income from within the Philippine only.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not subject to estate tax?

A succession to the property of a decedent who left no last will and testament.
A donation mortis causa.
A donation in contemplation of death.
A transfer during the lifetime for less than full and adequate consideration.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The following, except one, may claim personal exemptions:

non-resident alien not engaged in trade or business in the Philippines
non-resident alien engaged in trade or business in the Philippines.
resident alien.
citizen.

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