Multiple Choice
1. Among the nature of taxation are the following. Which one is not?
a. It is inherent in sovereignty.
b. The citizenry benefits from it.
c. The government solely benefits from it.
d. It is a means by which the government raises income.
2. The following are authorized to admin...
1. Among the nature of taxation are the following. Which one is not?
a. It is inherent in sovereignty.
b. The citizenry benefits from it.
c. The government solely benefits from it.
d. It is a means by which the government raises income.
2. The following are authorized to administer oaths and take testimony. Who is not?
a. BIR Service Chief
b. BIR Commissioner
c. BIR Deputy Commissioner
d. BIR rank-and-file employee
3. In case of conflict between tax laws and generally accepted accounting principles (GAAP)
a. GAAP shall prevail over tax laws.
b. Tax laws shall prevail over GAAP
c. The issue shall be resolved by the courts.
d. Both tax laws and GAAP shall be enforced.
4. Which is not a valid definition of income?
a. Income is a fund at one distinct point of time
b. Income is the return from the capital invested
c. Income means cash or its equivalent unless otherwise specified
d. Income means all wealth which flows into the taxpayer other than a mere return of capital.
5. The following are sources of tax laws. Which is not a source?
a. Barangay resolutions
b. Supreme Court decisions
c. Treaties or international agreements
d. Revenue Regulations by the Department of Finance
6. One of the characteristics of internal revenue laws is that they are
a. Penal in nature.
b. Criminal in nature.
c. Political in nature.
d. Generally prospective in application.
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