Which of the following refers to a tax levied on any gains made from the realization or sale of a chargeable asset where the gain exceeds GH¢50.00 A. Rent income tax B. Income tax C. Property tax D. Capital gains tax E. withholding tax

Fill in the Blank QuestionFill in the blank question.A tax means that the government is allowing a business to pay fewer or no property taxes for a specified period.

One of the following is not a direct taxQuestion 2Answera.company gain taxb.personal income taxc.clothing taxd.capital gains tax borrowing

The property tax on a house is an amount determined by the local government based on a percentage of which of the following?Land value and bank feesBank interest and insurance feeBuilding and land valueBuilding value and interest rate charged

Fundamentally, there are two types of tax jurisdiction.Group of answer choicesThe worldwide and the territorialThe residential and the visitingThe passive and the active incomeThe earned and the unearned

It is a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated termsa.Mortgageb.Carc.Personald.Credit CardClear my choiceQuestion 42Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich of the following is not an example of Ad Valorem Tax?a.Property taxes on real estateb.Sales Tax on Consumer Goodsc.Income Taxd.Value added tax on the final productClear my choiceQuestion 43Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for Net VAT Payable on VAT "inclusive" Sales/Receipts:Total Value Sales (VAT inclusive) = Php 77,000.00Total Purchase with VAT receipts (VAT inclusive) = Php 19,000.00a.Php 6,114.29b.Php 6,214.29c.Php 6,314.29d.Php 6,414.29Clear my choiceQuestion 44Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWho shall govern any contribution in cash or in kind to any candidate, political party or coalition of parties for campaign purposes?a.Election Codeb.Department of Trade and Industryc.Higher Education Commissionerd.Internal Revenue OfficerClear my choiceQuestion 45Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is subject to tax besides estate tax?Select one:a.Transfer for insufficient considerationb.Revocable transferc.Bona fide sale for an adequate and full consideration in money or money's worthd.Transfer in contemplation of deathClear my choiceQuestion 46Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIn the case of life insurance proceeds in which the designated beneficiary is a third person, which is relevant in determining whether or not such proceeds should be included as part of the gross estate?Select one:a.Designation of the beneficiaryb.Age of the beneficiaryc.Amount of the proceedsd.Civil status of the decedentClear my choiceQuestion 47Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is NOT a major class of deduction from the gross estate of a resident decedent?Select one:a.Vanishing deductionb.Medical expensesc.Retirement benefits received by the heirs under RA 4917d.Judicial expensesClear my choiceQuestion 48Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is an exemption to the authority to suspend by the Commissioner of Internal Revenue?Select one:a.Failure to file a VAT returnb.Failure to issue receipts or invoicesc.Failure to add VAT to the total invoice priced.Understatement of taxable sales or receipts by 30 % or more of his correct taxable sales or receipts for the taxable quarterClear my choiceQuestion 49Not yet answeredMarked out of 1.00Flag questionTipsQuestion textMr. Lumapas, a VAT-registered individual, furnished the following information for a taxable month, VAT not included:   Domestic sale to consumers                                 Php 350, 000   Domestic sale to export traders                            Php 100, 000   Direct export sale                                                  Php 200, 000   Purchases, total invoice cost,                         From VAT-registered individuals:       Of goods                                                        Php 330, 000       Of services                                                     Php 220, 000  Compute for the input taxes. Select one:a.Php 65, 000 b.Php 55, 000 c.Php 53, 000d.Php 66, 000 Clear my choiceQuestion 50Not yet answeredMarked out of 1.00Flag questionTipsQuestion textLifeline, a domestic insurance corporation, posted the following data for the third quarter of 2000:a. Total insurance premiums due and collectible                Php 912, 500b. These 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, 000c. Collection 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 16, 000 b.Php 9, 750c.Php 6, 250d.Php 26, 031