1.The principal purpose of taxation is to
Group of answer choices
a. Reduce excessive inequalities of wealth.
b. Improve the performance of government offices.
c. Raise revenue for governmental needs.
d. Implement the police power of the State.
Flag question: Question 2
Question 21 pts
2. Which of the following refers to the stage of taxation that covers the enactment of a law by Congress authorizing the imposition of tax?
Group of answer choices
a. Collection
b. Assessment
c. Refund
d. Levy
Flag question: Question 3
Question 31 pts
3. Which of the following is not properly matched with its situs?
Group of answer choices
a. For persons – residence of the taxpayer
b. For real property – location of the property
c. For tangible personal property – domicile of the owner
d. For income – source of income
Flag question: Question 4
Question 41 pts
4. Which theory in taxation states that without taxes, a government would be paralyzed for lack of power to activate and operate it, resulting in its destruction?
Group of answer choices
a. Power to destroy theory
b. Lifeblood or necessity theory
c. Benefits received or reciprocity theory
d. Sumptuary theory
Flag question: Question 5
Question 51 pts
5. Which of the following is an executive or administrative act?
Group of answer choices
a. Determination of the subject of the tax
b. Assessment of the tax
c. Setting the amount of tax
d. Determining the purpose of the tax
Flag question: Question 6
Question 61 pts
6. What is the element of sound tax system that refers to the sources of revenue being sufficient to meet the demands of public expenditures?
Group of answer choices
a. Fiscal adequacy
b. Theoretical justice
c. Administrative feasibility
d. Equality
Flag question: Question 7
Question 71 pts
7. The following are secondary purposes of taxation, except:
Group of answer choices
a. Promotion of general welfare
b. Reduction of social inequality
c. Fiscal purpose
d. None of the above
Flag question: Question 8
Question 81 pts
8. The following is the nature of taxation, except:
Group of answer choices
a. Inherent power
b. Essentially a legislative function
c. Subject to the approval of people
d. Subject to inherent and constitutional limitations
Flag question: Question 9
Question 91 pts
9. Which of the following statements is correct?
Group of answer choices
a. The purpose of taxation may also be “compensatory,” meaning, it may be used to make up for the benefit received.
b. Taxes may be imposed for the equitable distribution of wealth and income in society.
c. Both “a” and “b”
d. Neither “a” nor “b”
Flag question: Question 10
Question 101 pts
10. The following are the stages of taxation
I – Levy or imposition of the tax on persons, property, or excises
II – Collection of taxes already levied
III – Sufficiency of governments sources to satisfy its expenditure
Group of answer choices
a. I, II, and III
b. I and II only
c. I and III only
d. II and III only
Flag question: Question 11
Question 111 pts
Assuming the taxpayer is a resident citizen, determine whether the income described below:
Lotto winnings
[ Select ]
A. Returnable income
B. Passive income
C. Capital gains
Flag question: Question 12
Question 121 pts
Assuming the taxpayer is a resident citizen, determine whether the income described below:
Interest from peso bank deposit, BDO, Manila
[ Select ]
A. Returnable income
B. Passive income
C. Capital gains
Flag question: Question 13
Question 131 pts
Assuming the taxpayer is a resident citizen, determine whether the income described below:
Gain from the sale of ordinary assets
[ Select ]
A. Returnable income
B. Passive income
C. Capital gains
Flag question: Question 14
Question 141 pts
Assuming the taxpayer is a resident citizen, determine whether the income described below:
Sale of unlisted shares of domestic corporations
[ Select ]
A. Returnable income
B. Passive income
C. Capital gains
Flag question: Question 15
Question 151 pts
Assuming the taxpayer is a resident citizen, determine whether the income described below:
Income from sale of goods
[ Select ]
A. Returnable income
B. Passive income
C. Capital gains
