Search Header Logo

Taxation Chapter 4 - FM2F

Authored by Lloyd Salinas

Business

University

Used 1+ times

Taxation Chapter 4 - FM2F
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Examples of passive income, except for:

Interest income from banks

Dividends from domestic corporations

Royalties

Compensation income

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The __________ starts from January 1 and ends December 31.

Fiscal year

Calendar year

Accounting period

Accounting reporting

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The __________ is any combination of accrual basis, cash basis and or other methods of accounting.

Accrual basis

Cash basis

Hybrid basis

Installment method

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

It is an amount paid in lieu of criminal prosecution over a tax violation.

Compromise interest

Compromise penalty

Compromise fees

Compromise violation

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Examples of active income, except for:

Compensation income

Interest income

Business income

Professional income

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

It is imposed on the gain realized on the sale, exchange and other dispositions of certain capital assets.

Final taxation

Regular income taxation

Capital gains taxation

Transfer taxation

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

It is the length of time over which income is measured and reported.

Calendar year

Accounting method

Accounting period

Fiscal year

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?