Please help!!! :((

1. Under Section 32 of the NIRC, the enumeration of gross income is the exclusive definition of gross income insofar as taxation is concerned.

Group of answer choices

No, it is not exclusive

No, income is a flow of wealth other than by a mere cost of capital

Yes, items not within Section 32 is not taxable

Yes, it is exclusive

2.

Gifts, bequests and devices are exempt from income taxes.

Group of answer choices

No, it is income on the part of the taxpayer

Yes, it is an exclusion from the gross income

Yes, it is not income

No, it is a flow of wealth other than by a mere cost of capital on the part of the taxpayer

3.

Gifts, bequests and devises are exempt from any national internal revenue taxes.

Group of answer choices

True

False

4.

Gifts, bequests and devises are exempt from any national internal revenue taxes.

Group of answer choices

True

False

5.

Which is NOT a requisite of an expense as allowable deduction?

Group of answer choices

It must be properly withheld if need be

It must be within the taxable period

It must be an ordinary and necessary expense of the trade or business

It must be properly substantiated

It must be actually paid or incurred

6.

What is the best evidence or substantiation for sales of goods?

Group of answer choices

Official receipt issued by the taxpayer

Official receipt issued by the client

Sales invoice issued by the vendor

Sales invoice issued by the taxpayer

7.

What is the best evidence or substantiation for sales of services?

Group of answer choices

Sales invoice issued by the taxpayer

Official receipt issued by the taxpayer

Sales invoice issued by the vendor

Official receipt issued by the client

8.

What is the best evidence or substantiation for purchases of goods?

Group of answer choices

Sales invoice issued by the taxpayer

Official receipt issued by the client

Official receipt issued by the taxpayer

Sales invoice issued by the vendor

9.

What is the best evidence or substantiation for purchases of services?

Group of answer choices

Sales invoice issued by the vendor

Official receipt issued by the client

Sales invoice issued by the taxpayer

Official receipt issued by the taxpayer

10.

Bribes, kickbacks and other similar payments are an allowable deduction from gross income.

Group of answer choices

True

False