1.Which of the following income is not from a related trade, business or activity of a domestic proprietary educational institution?

a.Income from the hospital where medical graduates are trained for residency

b.Income from the canteen situated within the school campus

c.Income from bookstore situated within the school campus

d.Income from rent of available office spaces in one of the school buildings

2.Which of the following government-owned or controlled corporations, agencies or instrumentalities shall pay such rate of tax upon their taxable income as are imposed upon corporations or associations engaged in similar business, industry, or activity? (TRAIN LAW)

a.Government Service Insurance System (GSIS)

b.Social Security System (SSS)

c.Philippine Charity Sweepstakes Office (PCSO)

d.none of the above

3.The MCIT shall be imposed upon a domestic corporation or a resident foreign corporation:

I - Whenever such corporation has a zero or negative taxable income;

II - When the amount of minimum corporate income tax is greater than the normal income tax due from such corporation.

a.Both I and II are correctc.Only I is correct

b.Neither I nor II is correctd.Only II is correct