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MULTIPLE CHOICE QUESTIONS: 31. It is a fixed amount of tax imposed upon persons residing in a community without regard to their property or occupation:

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MULTIPLE CHOICE QUESTIONS: 31. It is a fixed amount of tax imposed upon persons residing in a community without regard to their property or occupation: a. Capitation tax b. Excise tax c. Privilege tax d. Property tax 32. The 8% optional tax is an example of the following except: a. Direct tax b. National tax Progressive d. Proportional 33. Imported vehicles are taxed according to value. This is an example of: a. Ad valorem tax b Privilege tax c Property tax Specific tax 34. The following are sources of tax laws, except: I a. Constitution of the Philippines b. Decisions on tax cases of the Supreme Court Revenue Memorandum Orders or Circulars of the BIR d. Sanggunian Bayan Ordinance on franchise 35. 1" statement -- In Tax Reporting, the source of the rules is the Tax Code 204 statement -In Financial Reporting, the source of the rules include the PERS. a. Only the statement is true b. Only the 2 statement is true c. All of the statements are true d. All of the statements are false 36. Generally, in Tax Accounting, the basis of revenue recognition is: a. In the period the income was earned and paid b. In the period the income was paid c. In the period the income was received by the taxpayer d. In the period the income was recorded in the books of accounts 37. The BIR has no power in this regard: a. Arrest tax evaders Assess the tax Collect the tax d. Enforce favorable judgments by the Courts 38. The following are issued by the BIR Commissioner except a Revenue Memorandum Circulars MacBook Air b. Revenue Memorandum Orders c Revenue Regulations d Revenue Rulings 39. The Commissioner of Internal Revenue can do the following, except: a. Change the accounting period b. Close the business of a taxpayer c. File a return on behalf of a taxpayer d Levy internal revenue taxes 40. The BIR Commissioner can terminate the taxable period of a taxpayer. Which of the following instances in most likelihood an exercise of such power may not be proper? Note: Taxpayer is under BIR audit: a. Taxpayer will travel and have a vacation abroad b. Taxpayer obstructed the proceedings from the collection of the tax C Taxpayer donated his only property to his children d. Taxpayer is closing the business due to losses

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