Question: MULTIPLE CHOICE: Choose the best answer from the choices provided. ______1. When the economic burden of a tax already paid is transferred to another, the

MULTIPLE CHOICE:

Choose the best answer from the choices provided.

______1. When the economic burden of a tax already paid is transferred to another, the tax is most likely a/n________________.

a. Direct Tax

b.Indirect Tax

c.Personal Tax

d.Specific Tax

______2. Which is not a characteristic of tax?

a.It is an enforced contribution.

b.It is generally payable in money.

c.It is subject to assignment.

d.It is levied by the law-making body of the State.

______3. Which issues revenue regulations?

a.Commissioner of Internal Revenue

b.Bureau of Internal Revenue

c.Department of Finance

d. Secretary of Finance

______4. Philippine Tax laws, by nature, are

a.penal

b.civil

c.remedial

d.political

______5. Which of the following do not relate to tax?

a.does not render business illegal when not paid

b.arises from law rather than from contracts

c.intended to cover cost of regulations

d.intended for public purpose

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

TRUE OR FALSE Determine whether the following statements are true or false. Write answer on the blank space provided for: 1. Only corporate taxpayers may use the fiscal accountingyear. 2. The...

14. The economic freedoms we have in the U.S. do not include a. the freedom to earn profits. Lesson 5 Examination Please read these instructions before you begin to answer the questions that follow....

TRUE OR FALSE: Write True on the blank provided if the statement is correct and False if the statement is incorrect: 1. Tax laws must originate exclusively from the House ofRepresentatives. 2. The...

Multiple Choice. Choose the best answer. 1. Special purpose governments differ from general purpose governments in that special purpose governments: a. Provide a single function or limited range of...

Examine the CAFR. Download a copy of the most recent comprehensive annual financial report (CAFR) for the City and County of Denver from its Web site: http://www.denvergov.org/controller (click on...

Multiple Choice. Choose the best answer. 1. Jan and Dean decided to form a charitable organization, I Love Rock N Rollers, to provide funding to assist former rock and roll group members who have...

Please help MULTIPLE CHOICE: Choose the best answer. 1. A person who values individualism would believe that most people 1. can make informed decisions 2. function best in a planned economy . require...

hello, i dont have an account with course hero but is there anyway i could get one solution to a problem? Ive been working all night to figure it out and it has really been bugging me. if not i...

Montonya Company has the following selected data for the current year: Sales (10,000 units) $90,000 Direct materials 30,000 Direct labor costs 10,000 Variable manufacturing overhead 3,500 Fixed...

Design a logic circuit for a manufacturing plant exit time horn and emergency horn using decoders and external OR gates. The exit time horn should be activated when either of the following conditions...

Net Fixed Assets and Depreciation On the balance sheet, the net fixed assets (NFA) account is equal to the gross fixed assets (FA) account (which records the acquisition cost of fixed assets) minus...

On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $ 90,000. The original cost of the inventory was $ 60,000. Thirty percent of the inventory has since been sold by Beta Lid to external...

THE IS THE SEQUENCE JENCE PF PROJECT ACTIVITIES FOR WHICH THERE IS MINIMUM TO ZERO SLACK (Ctrl)

Improving creative problem-solving ability.

1. Discuss the following statements: (a) A circle becomes a straight line when viewed on a very small scale. (b) Breaking patterns creates change.

2. Develop your own loop models for the following conditions. At least one model shall be developed for each of the points under (a-j) a) If A shows anger towards B, what will Bs reaction be? b) What...