.. GH Vodafone 3G 10:00 AM @ 100% Question 9 Not yet answered Marked out of 1 The Social Security Scheme of 1965 was a Provident Fund (PF) Scheme under which lump sums were paid to qualified members. Contribution to the scheme was at the rate of 7.5% by the worker and 15% by the employer from 25th May, 1965 to July 31, 1966. From 1st August, 1966, the contribution rates were reduced to 5% and 12.5% by the worker and employer respectively, after an outcry of high contribution rates. But now, say 2020, the contribution rates by the worker and employer respectively are Select one: a. 5%, 13.5% b. 5%, 12.5% c. 12.5% 594 ..1 GH Vodafone 3G 9:59 AM @ 100% Ivideu VULUI! For the purposes of ascertaining the income of a person for a basis period from any business, employment, or investment there shall be deduction winch include all outgoings and expenses wholly, exclusively and necessarily incurred during that period by that person in the production of the income. What does it mean for expenses to exclusively incurred as used in the statement above? Select one: a. This refers to quantum, ie, the total amount must be incurred for business purposes. b. This means that the expense should be such that it cannot be avoided if the business is to earn income. .. GH Vodafone LTE 9:55 AM @ 100% Question 4 Not yet answered Marked out of 1 Kofi Brokeman was employed for part of the year ending December 31, 2020. Kofi Brokeman received GH?35,000 of wages, GH?20,000 from CITA Partnership business as his share of profit for the year, and GH?10,000 from his investors as investment income for the year. What is the tax liability of Kofi Brokeman? Select one: a. GH?12,137 b. GH?1,011.4 OOOO c. GH?12,025 d. GH?11,700 .. GH Vodafone 3G 9:52 AM @ 100% Ivideu VULUI! For the purposes of ascertaining the income of a person for a basis period from any business, employment, or investment there shall be deduction winch include all outgoings and expenses wholly, exclusively and necessarily incurred during that period by that person in the production of the income. What does it mean for expenses to exclusively incurred as used in the statement above? Select one: a. This refers to quantum, ie, the total amount must be incurred for business purposes. b. This means that the expense should be such that it cannot be avoided if the business is to earn income