TRUE OR FALSE: 1. A subsistence livelihood activity is a business 2. A single income activity rendered by a resident person is engaged in a business. 3. A non-stock and non-profit educational institution is engaged in a business. 4. A sale of company cars to its employee officers is considered a business transaction 5. Regular sale of human blood to obtain a gain is considered a business 6. A Filipino citizen who rendered regular services for a profit to an employer is consid engaged in a business. 7. All non-business transactions are not subject to business tax. B. Casual sales are not subject to business tax but subject to income tax. 9. Only VAT-registered business is subject to VAT. 10. Only one (1) TIN is to be assigned for every business by a sole proprietor taxpayer. 11 A business should register before the start of its operation. 12. A business should renew its registration annually before the end of the year. 13. Excise taxes are imposed on the production, sale, or consumption of a commodity in 14. General consumption taxes are levied on retail sales price of the products. 15. A non-VAT business is generally subject to other percentage tax. 16. A VAT business is liable to pay VAT unless the BIR maintains its VAT registration. 17. Non-compliance to business registration would consider the business illegal. 18. Once an annual registration fee for the main office is paid, there is no need to pay separately for the annual registration fee of its branch, warehouse, or facility 19. Cooperatives are business tax exempt, but subject to registration fee. 20. In general, whether the business is to be registered as VAT or non-VAT, its registration P500. 21 The taxpayer is required to pay annual registration fee of P500 for each distinct and business. 22. When the business received cash collection of charged invoice, it should issue a commercial invoice for the amount received. 23. A non-VAT person can only shift to VAT after three (3) years upon registration as not 24. Sellers of merchandise on a commission basis under the direct selling method of marketing do not constitute a branch. 25. Excise tax regulates the excessive consumption of sin products