Please answer the question.

1.

Which is the most INCORRECT statement regarding taxes? O A. Taxes are necessary for the continued existence of the government. O B. The obligation to pay tax does not rest upon the privilege enjoyed by or the protection afforded to the citizen of the government but upon the necessity money for the support of the State. O C. There should be personal benefit enjoyed from the government before one is required to pay tax. O D. Taxes should be collected without unnecessary delay but its collection should not be tainted with arbitrarinessWhich of the following is incorrect? O A. The collected tax is referred to as revenue. O B. Tax is the sole source of government revenue. O C. License is imposed before commencement of a business or profession. D. Debt can be subject to compensation or set-off.Peter has a total annual income of P280,000. How much is the tax payable? O A. P60,000 O B. P6,000 C. P56,000 D. NonePeter and John are both licensed accountants and would want to form a partnership. The question is, are they eligible to register as BMBE? O True O FalseWhich of the following are the following incentives may be granted to BMBES? A. Income tax exemption from income arising from the operations of the enterprise. O B. Exemption from the coverage of the Minimum Wage Law. O C. Technology transfer, production and management training, and marketing assistance programs for BMBE beneficiaries. D. All of the aboveWhat distinguishes debt from tax? O A. Arises from contract O B. Never draws interest O C. Non-payment will lead to imprisonment O D. Generally payable in moneyToll exhibits all of the following characteristics, except one. Which is the exception? O A. Demand of ownership O B. Compensation for the use of another's property O C. Maybe imposed by private individuals O D. Levied for the support of the governmentA. Government revenue may come from tax, license, toll and penalties. B. Penalty may arise either from law or contracts. Which is false? O A. Aonly O B. B only O C. A and B O D. Neither A nor BWhen determining the total assets of MSMEs, the total amount of land is included O True O FalseWhich is not a nature of tax? O A. Levied by the lawmaking body O B. Enforced proportional contribution O c. Generally payable in kind O) D. Enforced within the territorial jurisdiction of the taxing authority