In the event a motion picture or program, after examination and review by the MTRCB, is declared unfit for exhibition in the Philippines, the said motion picture or television program shall be returned by the importer or distributor thereof to the of origin or to any other place outside of the Philippines within a period of days, which shall be counted from the date of receipt by the importer or distributor of the decision of the MTRCB banning the motion picture or program for exhibition in the Philippines, and all customs duties and internal revenue taxes paid by the importer or distributor on account of the importation to and entry into the Philippines of the said motion picture or television program shall be automatically by the government office concerned to the said importer or distributor. A copy of the decision of the BOARD banning a motion picture or television program for exhibition in the Philippines shall be furnished to the Commissioner of Internal Revenue and to the Collector of Customs of the port of entry of the said motion picture or television program, and the same shall constitute a sufficient authority to the Commissioner of Internal Revenue and the Collector of Customs concerned to the internal revenue taxes and customs duties paid by the importer or distributor on account of the importation of the banned motion picture or television program.

Under Republic Act No. 8293 or Intellectual Property Code of the Philippines, the validity of this copyright is presented during the lifetime of the author plus 50 years after death.Select one:a.Photographic workb.Audio-visual workc.Artd.Literary works

A foreign corporation which transacts business in the Philippines without the necessary license from the SEC cannot sue in Philippine courts.Group of answer choicesTrueFalse

It is the sale and actual shipment of goods from the Philippines to a foreign country, irrespective of any shipping arrangement that may be agreed upon which may influence or determine the transfer of ownership of the goods so exported and paid for in acceptable foreign currency or its equivalent in goods or services, and accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP);a.Product-oriented sellingb.Consultative Sellingc.Import salesd.Export SalesClear my choiceQuestion 62Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt is to the extent of any interest therein, of which the decedent has at any time made a transfer (except in case of a bona fide sale for an adequate and full consideration in money or money`s worth) by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power (in whatever capacity exerciseable) by the decedent alone or by the decedent in conjunction with any other person (without regard to when or from what source the decedent acquired such power), to alter, amend, revoke, or terminate, or where any such power is relinquished in contemplation of the decedent`s death.a.Property Interestb.Transfer in Contemplation of Deathc.Decedent`s interestd.Revocable TransferClear my choiceQuestion 63Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for Net VAT "exclusive" Sales/ Receipts:Total VAT Sales (VAT exclusive) = Php 99,000.00Total purchases with VAT receipts (VAT exclusive) = Php 45,000.00.a.Php 6,480.00b.Php 6,470.00c.Php 6,475.00d.Php 6,490.00Clear my choiceQuestion 64Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is NOT considered a percentage tax?Select one:a.1/2 of 1 % stock transaction tax on shares traded through the local stock exchangeb.10 % overseas communication taxc.3 % tax on keepers of garaged.10-20% stock transaction tax on shares not traded through the local stock exchangeClear my choiceQuestion 65Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt means incorporated companya.sociolegalb.Sociedad anonimac.sociohistoricald.sociolectClear my choiceQuestion 66Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich receipts from the following entities are subject to VAT?Select one:a.Brokersb.All of thesec.Operators of hotels and motelsd.BookstoresClear my choiceQuestion 67Not yet answeredMarked out of 1.00Flag questionTipsQuestion textHow much is the tax rate for vehicles worth Php 500, 000?Select one:a.2 %b.Php 112,000+ 40% in excess of Php 500,000c.Php 12,000 + 20% in excess of Php 500,000d.Php 512,000 + 60% in excess of Php 500,000Clear my choiceQuestion 68Not yet answeredMarked out of 1.00Flag questionTipsQuestion textMr. Yusingco furnished the following records of his horse races in the first quarter of 2012:HorsesLucky 7          1st      Php 45, 000Skyline           3rd     Php 125, 000Pigeon Hole    4th      Php 30, 000Paco               2nd     Php 87, 500Jurassic          5th     NoneHow much is the percentage tax due?Select one:a.Php 5, 750b.Php 27, 850c.Php 28, 750d.Php 14, 375 Clear my choiceQuestion 69Not yet answeredMarked out of 1.00Flag questionTipsQuestion textComplete the statement:A real property which was acquired at Php 150, 000, with a fair market value on the date of the death of the decedent of Php 500, 000 but is still subject to a mortgage of Php 100, 000 shall ___Select one:a.Be included in the gross estate at Php 150, 000b.Be included in the gross estate at Php 400, 000c.Allow a deduction of Php 250, 000 from the gross estated.Be included in the gross estate at Php 500, 000Clear my choiceQuestion 70Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt means all rolls of tobacco or any substitute thereof, wrapped in leaf tobacco.a.Wholesale priceb.Cigarettesc.Retail Priced.Cigar

It is the sale and actual shipment of goods from the Philippines to a foreign country, irrespective of any shipping arrangement that may be agreed upon which may influence or determine the transfer of ownership of the goods so exported and paid for in acceptable foreign currency or its equivalent in goods or services, and accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP);a.Export Salesb.Consultative Sellingc.Product-oriented sellingd.Import sales

It allowed the Philippines for a ten-year transition under a Philippine Commonwealth in preparation to the granting of freedom.Select one:a.Hare-Hawes-Cutting Actb.Tydings-McDuffie Actc.Jones Law of 1916d.Philippine Constitution