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WorksheetsTAX QUIZ - RDO 47 - East Makati
Total questions: 15
Worksheet time: 5mins
It is an entity over which the investor has significant influence.
Associate
Affiliate
Subsidiary
Parent company
It refers to the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
Control
Significant Influence
Financial Power
Management Override
What do you call the entity that is preparing its financial statements?
Reporting Entity
Related Party
Surviving Entity
FS Division
It is a person or entity that is related to the reporting entity.
Related Party
Relative
Close Members of the Family
Trustee
What is the Related Party Transaction (RPT) Form?
Form 1709
Form 1905
Form 1702
Form 2303
Bayanihan to Recover As One Act
RA 11494
RA 10963
RA 11469
RA 11213
In Bayanihan to Recover as One Act, NOLCO can be carried forward as a deduction from gross income for how many years immediately following the year of such loss?
5 years
3 years
4 years
6 years
Under the Bayanihan to Recover as One Act, the net operating loss which can be carried forward as a deduction from gross income covers what calendar year/s?
2020 and 2021
2020, 2021 and 2022
2019, 2020 and 2021
either 2020 or 2021
All donations of personal computers, laptops, tablets, or similar equipment (i.e. mobile phone, printer) for use in teaching and learning shall be exempted from donor’s tax if made to:
Public schools only
Private schools only
Both public and private schools
Any school
In availing the VAPP on withholding tax, the prescribed percentage which must be paid is:
5%
6%
3%
12%
10%
The Tax Type Code when availing VAPP is?
MC
VA
VP
IT
The period to avail VAPP is until?
December 31, 2020
December 31, 2021
December 29, 2020
January 2, 2021
VAPP payment can be made through:
any BIR Authorized Agent Bank (AAB) or Revenue Collection Officer (RCO) where the taxpayer is registered or having jurisdiction over the transaction ONLY
Paymaya
G-Cash
Any of the above
If qualified under the VAPP, the BIR will issue:
Certificate of Availment
Certificate of Appreciation
Certificate of Attendance
Certificate of Application
VAPP is:
Voluntary Assessment and Payment Program
Voluntary Assessment Program Payment
Voluntary Assistance and Payment Program
Voluntary Assessment and Assistance Program
