1(a)

1(b)

1(c)

Comrade Limited had purchased the patent right at a consideration of HK$200,000 from its associate in the year of assessment 2018/19. The patent right was subsequently sold for HK$250,000 in the year of assessment 2020/21. Which of the following tax treatment is CORRECT regarding the disposal of the patent right? A) Taxable amount was restricted to HK$200,000. B) Sale proceeds of HK$250,000 was taxable. C) No taxable amount. D) Gain of HK$50,000 was taxable. Which of the following is NOT a prescribed fixed asset? A) Printer B) Accounting software C) Fax machine D) Notebook Which of the following is NOT a method for recovery of tax prescribed in Inland Revenue Ordinance? A) Taking recovery action in the District Court. B) Recovering the tax from the taxpayer's spouse or parents. C) Impounding ships and aircrafts. D) Apply to District Court for a departure prevention direction if the taxpayer intends to depart from Hong Kong