1. A corporation which may be classified as either a resident corporation or non-resident corporations?
   1. Domestic corporation
   2. Government owned and controlled corporation
   3. Foreign corporation
   4. Non-profit hospital

2. A domestic corporation may employ, as a basis for filling its annual corporate return the
   1. Calendar year only
   2. Fiscal year only
   3. Either calendar or fiscal
   4. Neither calendar nor fiscal

3. The improperly accumulated earnings tax shall apply to?
   1. Publicly held corporation
   2. Banks and other non-bank financial
   3. Insurance companies
   4. Private corporations

4. The following income are subject to final tax except:
   1. Royalty income received by a domestic corporation from domestic corporation
   2. Cash dividends received by a non-resident foreign corporation form a domestic corporation
   3. Cash dividends received by a domestic corporation form a domestic corporation
   4. Interest income received foreign corporation from a Phiilippine bank

5. Cash basis and accrual basis taxpayer differs in the treatment of
   1. Current period accrued expense
   2. Current period cash expense
   3. Prepaid expense
   4. Depreciated expense