How much is the tax rate for gasoline from 2001 up to 2700 liters?Select one:a.70 %b.30 %c.25 %d.50 %Clear my choiceQuestion 2Not yet answeredMarked out of 1.00Flag questionTipsQuestion textComplete the statement by choosing the appropriate situation. The value of the gross estate of the decedent shall be determined by including the value at the time of his death of all property, real or personal, tangible or intangible, wherever situate: Provided, however, that ___Select one:a.In the case of a nonresident decedent who at the time of his death was a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.b.In the case of a resident decedent who at the time of his death was a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.c.In the case of a nonresident decedent who at the time of his death was not a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.d.In the case of resident decedent who at the time of his death was not a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.Clear my choiceQuestion 3Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich sales by VAT-registered person shall NOT be subject to zero percent (0 %) rate?Select one:a.Transfer, use or consumption not in the course of business of goods, properties originally intended for sale or for use in the course of trade or businessb.Foreign currency denominated salesc.Export salesd.Effectively zero-rated salesClear my choiceQuestion 4Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is TRUE about excise tax?Select one:a.Goods may be subject to both VAT and excise taxb.Goods subject to VAT are exempted from excise taxc.All products are subject to excise taxd.Lots are subject to excise taxClear my choiceQuestion 5Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for the taxable net estate:Townhouse – P 700,000Toyota Car   - P 300,000Other properties – P 1,100,000Grose Estate – P 2,100,000Less allowed deductionsExpenses, losses etc. – Php 150,000Medical expenses - P 90,000Vanishing deductions – P170,000Family home allowance – P 185,000Standard deductions – P 150,000a.P 1,555,000b.P 1,355,000c.P1,345,000d.P 1,365,000Clear my choiceQuestion 6Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt is an indirect tax and the amount of tax may be shifted or passed on to the buyer, transferee or lessee of the goods, properties or services.a.Value Added Taxb.Excise taxc.Real estate Taxd.Income TaxClear my choiceQuestion 7Not yet answeredMarked out of 1.00Flag questionTipsQuestion textHe is the responsible for subsidiary journals that shall contain accounting requirements.a.Secretary of Legal Affairsb.Secretary on Commission on Auditc.Secretary of Financed.Secretary of Budget ManagementClear my choiceQuestion 8Not yet answeredMarked out of 1.00Flag questionTipsQuestion textOne who is entitled to inherit propertya.Giverb.Payerc.Donord.HeirClear my choiceQuestion 9Not yet answeredMarked out of 1.00Flag questionTipsQuestion textThe following are the amounts of total invoice  costs/prices:Mr. A, a non-VAT taxpayer, sells to Mr. B, a VAT taxpayer   Php 27, 500Mr. B, a VAT taxpayer, sells to Mr. C, a VAT taxpayer   Php 44, 000Mr. C, a VAT taxpayer, sells to Mr. D, a VAT taxpayer and an exporter   Php 77, 000Mr. D, a VAT taxpayer, exports   Php 137, 500Find the VAT of Mr. C.Select one:a.Payable of Php 0b.Refundable of Php 7, 500c.Payable of Php 3, 300d.Payable of Php 9, 240Clear my choiceQuestion 10Not yet answeredMarked out of 1.00Flag questionTipsQuestion textPercentage tax or a Value Added Tax are both business taxes.a.Trueb.None of the abovec.Falsed.Undetermined

_____ % tax on entities with annual sales receipts of less than 5,200,000;6 their original state, price regulated petroleum products and fertilizers.Select one:a.10b.None of the choicesc.2d.5

Lisa, the decedent, owns a property amounting to Php 750, 000 at the time of his death. The said property was sold at Php 350, 000 by Lisa during her lifetime to Enrique. Nevertheless, its fair market value was Php 600, 000. It was agreed that the transfer of ownership will be done after Lisa's death. For estate tax purposes, how much should be included in the gross estate of Lisa?Select one:a.Php 600, 000b.Php 750, 000c.Php 250, 000d.Php 400, 000Clear my choiceQuestion 72Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhen the donee or beneficiary is stranger, the tax payable by the donor shall be?a.25% of the net giftsb.28% of the net giftsc.30% of the net giftsd.29% of the net giftsClear my choiceQuestion 73Not yet answeredMarked out of 1.00Flag questionTipsQuestion textGlobal Link Communication, Inc. has gathered the following data for the last quarter of 2015:   Gross Receipts on Overseas Communication from Philippines,     Php 800,000   Gross Receipts on Overseas Communication from Philippines which are exempted from percentage tax (included above),     Php 142, 500.The amounts above are exclusive of the percentage tax. How much is the percentage tax due?Select one:a.Php 14, 250b.Php 65, 750c.Php 80, 000d.Php 142, 500Clear my choiceQuestion 74Not yet answeredMarked out of 1.00Flag questionTipsQuestion textBelow is the data of selected accounts of a taxpayer, with VAT and non-VAT business. No inventories were done at the start and end of the taxable period.   Purchases, all from VAT suppliers,     Exclusive of VAT                                                   Php 750, 000   Sales, exclusive of any tax:     Exports, VAT business                                           850, 000     Exports, non-VAT business                                     600, 000     Domestic sales, VAT business                                 200, 000     Domestics sales, non-VAT business                         250, 000 How much is VAT payable on domestic sales?Select one:a.Php 14, 400b.Php 0c.Php 53, 000 d.Php 27, 000 Clear my choiceQuestion 75Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is NOT considered a percentage tax?Select one:a.10 % - 20 % stock transaction tax on shares not traded through the local stock exchangeb.1/2 of 1 % stock transaction tax on shares traded through the local stock exchangec.10 % overseas communication taxd.3 % tax on keepers of garageClear my choiceQuestion 76Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich deductions from the gross estate is allowable provided that the amount to be deducted shall be the lowest among the actual, 5 % of the gross estate, or Php 200, 000?Select one:a.Family home allowanceb.Funeral expensesc.Medical expensesd.Standard deductionsClear my choiceQuestion 77Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for Net VAT Payable on VAT "inclusive" Sales/Receipts:Total Value Sales (VAT inclusive) = Php 88,000.00Total Purchase with VAT receipts (VAT inclusive) = Php 17,000.00a.Php 7,607.14b.Php 7,608.14c.Php 7,609.14d.Php 7,606.14Clear my choiceQuestion 78Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for Net VAT "exclusive" Sales/ Receipts:Total VAT Sales (VAT exclusive) = Php 59,000.00Total purchases with VAT receipts (VAT exclusive) = Php 31,000.00.a.Php 3,359.00b.Php 3,350.00c.Php 3,360.00d.Php 3,370.00Clear my choiceQuestion 79Not yet answeredMarked out of 1.00Flag questionTipsQuestion textHow much minimum quarterly gross receipt must be considered for the public utility bus - Exceeding 50 passengers before implementing percentage tax?a.Php 7,200.00b.Php 7,300.00c.Php 7,500.00d.Php 7,400.00Clear my choiceQuestion 80Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for the taxable net estate:Townhouse – P 700,000Toyota Car   - P 300,000Other properties – P 1,100,000Grose Estate – P 2,100,000Less allowed deductionsExpenses, losses etc. – Php 110,000Medical expenses - P 80,000Vanishing deductions – P170,000Family home allowance – P 185,000Standard deductions – P 150,000a.P 1,400,000b.P 1, 410,000c.P 1,405,000d.P 1,404,000

Multiple Choice QuestionFossil fuels currently account for about Blank______ percent of the world's commercial energy needs.Multiple choice question.8054248

Taxes that are based on a proportion of the value of the property ?Select one:a.none of the choicesb.appraisalc.ad valoremd.collection

Agencia Cigurado, a domestic insurance corporation, posted the following data for the third quarter of 2000:Total insurance premiums due and collectible                Php 912, 500These premiums consist of the following:   Life and Disability insurance premium             Php 300, 000   Marine insurance premium                                    212, 500   Heal th & accident insurance premium                    250, 000   Property insurance premium                                  150, 000Collection during the quarter on the above premiums were 65 %, 45 %, 50 %, and 70 % respectively.How much is the percentage tax due?Select one:a.Php 9, 750b.Php 6, 250c.Php 26, 031d.Php 16, 000