QUESTION 1

i) An individual can save the maximum amount of tax, by properly arranging his/her operations as per the requirements of the law, within the framework of the statute. Which is this statement referring to

a. Economic stability

b. Reduction of tax liability

c. Healthy growth of the economy

d. minimisation of litigation

ii) Jaafar has several organisation that he donates mostly to. RM400 to MAKNA, RM350 to NKF and RM500 to UNICEF. Jaafar earn an annual income of RM40,000. How much can he exempt from his tax?

a. 1250

b. 2000

c. 1000

d. 2450

iii) In order to determine how much insurance you need to have, one method used is

a. need analysis

b. multiplying method

c. All the answers

d. Coverage method

iv) ____is being trade in Bursa.

a. Property trust

b. Mortgage Trust

c. Equity trust

d. None of the above

v) all of these are deduction from income, except

a. Securities Transaction tax

b. Perquisite tax

c. All the answers

d. Value added tax

e. None of the answers

vi) IRB implemented e-filing so that

a.

Produce more inefficient system that provide faster collection of taxes

b.

None of the answers

c.

to modernized and streamlining tax administration

d.

Reduce level of income tax compliance

e.

All the answers

PLEASE JUST STATE A,B,C or D FOR EACH QUESTIONS. NO NEED EXPLANATION. THANK YOU!