WorksheetsA241 REVISION QUIZ
Total questions: 10
Worksheet time: 6mins
The resident status of a company in Malaysia is determine based on the ________ features.
management and administration
control and management
administration and control
Net profit before tax is adjusted income of a company.
True
False
Taxable income which is not included in the computation of net profit must be _____ during the adjustment process.
Deducted
Added
Ignored
Added twice
Investment income is not a gross income from business source for a company.
True
False
Under Section 33(1), ‘wholly’ refers to the _____ of money spent while ‘exclusively’ refers to the _____ of spending.
reason; time
quantum; period
amount; purpose
objective; quantity
Capital allowance is deducted from ____.
gross income
adjusted income
statutory income
aggregate income
Non-allowable expense is stipulated under ______ of the Income Tax Act 1967.
section 34
section 37
section 39
section 44
The tax rates of a big company in Malaysia for YA 2024 is _____.
15%
17%
23%
24%
Exemption of income is a type of ____ by the government.
incentive
deduction
tax credit
Tax liability is calculated based on the amount of _______.
net profit before tax
aggregate income
chargeable income
gross income
