PLEASE HELP ME ANSWER THE FOLLOWING

21.In 2019, Nonie a married Filipino resident was the sole support of his uncle, cousin, nephew, niece and aunt all of whom are living with him, minors, single, not gainfully employed. Also dependent upon him for full support was his three-year old son who is living with Nonie's estranged wife, Eileen. Also living with and chiefly dependent for support upon Nonie were his 90- year old grandmother and grandfather. How many dependents, could Nonie claim as his additional exemptions?

None

One

Two

Three

22.The following are passive income, except:

Royalties, Prices and Winnings more than P10,000.-

Interest from Philippine currency bank.

Stock dividends from domestic corporations.

Shares of individual partners in the net profits of taxable partnerships.-

23.On capital gain tax on real property, which of the following statements is not true?

The tax should be paid, if in one lump sum, within 30 days from the date of sale.-

The term "initial payment" is synonymous to "down payment"

The installment payment of the tax should be made within 30 days from receipt of each installment payment of the selling price.

The tax may be paid in installment if the initial payments do not exceed 25% of the selling price. -

24.Statement 1: Interest earned on Banko Sentral treasury notes is subject to a final tax of 20%. Statement 2: Interest earned on customers' trade notes is not subject to final tax.

Both statements are true

Both statements are false

Only the first statement is true.

Only the second statement is true.

25.Which statement is wrong?

A resident citizen and a resident alien have a final tax of 15% on interest on foreign currency deposit.

A non-resident citizen is exempt from income tax on interest on foreign currency deposit.

A non-resident alien engaged in business in the Philippines is subject to a final tax of 25% on gross income from within the Philippines from cinematographic films.

A non-resident alien engaged in business in the Philippines has a final tax of 20% only if the interest is on a bank deposit.

26.A non-resident alien not engaged in business in the Philippines, but with income from the Philippines: Statement 1. is taxed at 25% of gross income from within the Philippines. Statement 2. is entitled to personal exemptions on the basis of reciprocity.

Both statements are true

Both statements are false

Only the first statement is true.

Only the second statement is true.

27.Statement 1: Compensation income refers to all income payments, in money or in kind, arising from personal services under an employer-employee relationship. Statement 2: Compensation income must arise not from corporate services but under an employer-employee relationship and it is in the nature of income to the recipient employee.

Only statement 1 is correct.

Both statements are correct.

Only statement 2 is correct.

Both statements are incorrect.

28.Who among the following is a non-resident alien?

An alien who comes to the Philippines for a definite purpose which in its nature may be promptly accomplished.

An alien who comes to the Philippines for a definite purpose which in its nature would require an extended stay.

An alien who has acquired residence in the Philippines.

An alien who lives in the Philippines with no definite intention as to his stay.

29.Which statement is wrong? Cancellation of indebtedness:

may not bring about income tax, but bring about donor's tax.

may bring about donor's tax, but not bring about income tax.

may result in dividend income subject to income tax.

has no tax significance.

30.Which of the following businesses is/are normally reporting income on accrual basis?

Real Property Lessor.

Professional partnership.

Brokerage business.

Trading business.

31.Which of the following is classifiable as a taxable separation pay?

Separation pay due to death, sickness or disability.

Separation pay due to reorganization of the company.

Separation pay due to company's brink of bankruptcy.

Separation pay due to optional retirement.

32.The following are exclusions from gross income, except

Proceeds of life insurance policies.-

Retirement benefits.-

Prizes and winnings.

Gifts, bequests and devises.-

33.Which of the following statements is not correct? Relatively small meal allowances paid to rank and file employee intended to promote health and goodwill are

considered as de minimis fringe benefits.

Not subject to fringe benefit tax.

Not subject to income tax as compensation.

subject to income tax as compensation.

34.Which of the following earnings is not taxable?

Interest earned and other income of the pension trust;

Terminal leave pays of retiring employees which are part of salary;

Income of foreign government from their passive investments in the Philippines;

All of the above.

35.Which of the following accounting period is acceptable as basis for reporting the annual taxable income of a taxpayer?

Fiscal year;

Calendar year;

That which the Commissioner prescribes under a particular circumstance;

All of the above

36.Which of the following income is considered earned within a fiscal year?

Income reported earned for the period June 1 of the previous year to June 30 of the current year.

Income reported earned for the period January 1 to December 31 of the previous year.-

Income reported earned for the period October 1 to December 31 of the previous year.-

Income reported earned for the period June 1 to December 31 of the current year.-

37.Which of the following will not require reporting of taxpayer's income on a calendar basis?

If the taxpayer is a corporation operating in a fiscal year;

If the taxpayer does not keep books of accounts;-

If the taxpayer has no annual accounting period;-

All of the above

38.As a general rule, which of the following is to be included in the annual tax return as an income for the taxable year?

Earned, accrued or received under cash basis of accounting.

Earned and received under accrual basis of accounting excluding receivables.

Earned including those not yet received under accrual basis of accounting.

Earned, accrued or received either under cash or accrual basis of accounting.PLEASE HELP ME ANSWER THE FOLLOWING

21.In 2019, Nonie a married Filipino resident was the sole support of his uncle, cousin, nephew, niece and aunt all of whom are living with him, minors, single, not gainfully employed. Also dependent upon him for full support was his three-year old son who is living with Nonie's estranged wife, Eileen. Also living with and chiefly dependent for support upon Nonie were his 90- year old grandmother and grandfather. How many dependents, could Nonie claim as his additional exemptions?

None

One

Two

Three

22.The following are passive income, except:

Royalties, Prices and Winnings more than P10,000.-

Interest from Philippine currency bank.

Stock dividends from domestic corporations.

Shares of individual partners in the net profits of taxable partnerships.-

23.On capital gain tax on real property, which of the following statements is not true?

The tax should be paid, if in one lump sum, within 30 days from the date of sale.-

The term "initial payment" is synonymous to "down payment"

The installment payment of the tax should be made within 30 days from receipt of each installment payment of the selling price.

The tax may be paid in installment if the initial payments do not exceed 25% of the selling price. -

24.Statement 1: Interest earned on Banko Sentral treasury notes is subject to a final tax of 20%. Statement 2: Interest earned on customers' trade notes is not subject to final tax.

Both statements are true

Both statements are false

Only the first statement is true.

Only the second statement is true.

25.Which statement is wrong?

A resident citizen and a resident alien have a final tax of 15% on interest on foreign currency deposit.

A non-resident citizen is exempt from income tax on interest on foreign currency deposit.

A non-resident alien engaged in business in the Philippines is subject to a final tax of 25% on gross income from within the Philippines from cinematographic films.

A non-resident alien engaged in business in the Philippines has a final tax of 20% only if the interest is on a bank deposit.

26.A non-resident alien not engaged in business in the Philippines, but with income from the Philippines: Statement 1. is taxed at 25% of gross income from within the Philippines. Statement 2. is entitled to personal exemptions on the basis of reciprocity.

Both statements are true

Both statements are false

Only the first statement is true.

Only the second statement is true.

27.Statement 1: Compensation income refers to all income payments, in money or in kind, arising from personal services under an employer-employee relationship. Statement 2: Compensation income must arise not from corporate services but under an employer-employee relationship and it is in the nature of income to the recipient employee.

Only statement 1 is correct.

Both statements are correct.

Only statement 2 is correct.

Both statements are incorrect.

28.Who among the following is a non-resident alien?

An alien who comes to the Philippines for a definite purpose which in its nature may be promptly accomplished.

An alien who comes to the Philippines for a definite purpose which in its nature would require an extended stay.

An alien who has acquired residence in the Philippines.

An alien who lives in the Philippines with no definite intention as to his stay.

29.Which statement is wrong? Cancellation of indebtedness:

may not bring about income tax, but bring about donor's tax.

may bring about donor's tax, but not bring about income tax.

may result in dividend income subject to income tax.

has no tax significance.

30.Which of the following businesses is/are normally reporting income on accrual basis?

Real Property Lessor.

Professional partnership.

Brokerage business.

Trading business.

31.Which of the following is classifiable as a taxable separation pay?

Separation pay due to death, sickness or disability.

Separation pay due to reorganization of the company.

Separation pay due to company's brink of bankruptcy.

Separation pay due to optional retirement.

32.The following are exclusions from gross income, except

Proceeds of life insurance policies.-

Retirement benefits.-

Prizes and winnings.

Gifts, bequests and devises.-

33.Which of the following statements is not correct? Relatively small meal allowances paid to rank and file employee intended to promote health and goodwill are

considered as de minimis fringe benefits.

Not subject to fringe benefit tax.

Not subject to income tax as compensation.

subject to income tax as compensation.

34.Which of the following earnings is not taxable?

Interest earned and other income of the pension trust;

Terminal leave pays of retiring employees which are part of salary;

Income of foreign government from their passive investments in the Philippines;

All of the above.

35.Which of the following accounting period is acceptable as basis for reporting the annual taxable income of a taxpayer?

Fiscal year;

Calendar year;

That which the Commissioner prescribes under a particular circumstance;

All of the above

36.Which of the following income is considered earned within a fiscal year?

Income reported earned for the period June 1 of the previous year to June 30 of the current year.

Income reported earned for the period January 1 to December 31 of the previous year.-

Income reported earned for the period October 1 to December 31 of the previous year.-

Income reported earned for the period June 1 to December 31 of the current year.-

37.Which of the following will not require reporting of taxpayer's income on a calendar basis?

If the taxpayer is a corporation operating in a fiscal year;

If the taxpayer does not keep books of accounts;-

If the taxpayer has no annual accounting period;-

All of the above

38.As a general rule, which of the following is to be included in the annual tax return as an income for the taxable year?

Earned, accrued or received under cash basis of accounting.

Earned and received under accrual basis of accounting excluding receivables.

Earned including those not yet received under accrual basis of accounting.

Earned, accrued or received either under cash or accrual basis of accounting.