_____ % tax on entities with annual sales receipts of less than 5,200,000;6 their original state, price regulated petroleum products and fertilizers.Select one:a.10b.None of the choicesc.2d.5

How much is the tax rate for gasoline from 2001 up to 2700 liters?Select one:a.70 %b.30 %c.25 %d.50 %Clear my choiceQuestion 2Not yet answeredMarked out of 1.00Flag questionTipsQuestion textComplete the statement by choosing the appropriate situation. The value of the gross estate of the decedent shall be determined by including the value at the time of his death of all property, real or personal, tangible or intangible, wherever situate: Provided, however, that ___Select one:a.In the case of a nonresident decedent who at the time of his death was a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.b.In the case of a resident decedent who at the time of his death was a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.c.In the case of a nonresident decedent who at the time of his death was not a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.d.In the case of resident decedent who at the time of his death was not a citizen of the Philippines, only that part of the entire gross estate which is situated in the Philippines shall be included in his taxable estate.Clear my choiceQuestion 3Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich sales by VAT-registered person shall NOT be subject to zero percent (0 %) rate?Select one:a.Transfer, use or consumption not in the course of business of goods, properties originally intended for sale or for use in the course of trade or businessb.Foreign currency denominated salesc.Export salesd.Effectively zero-rated salesClear my choiceQuestion 4Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is TRUE about excise tax?Select one:a.Goods may be subject to both VAT and excise taxb.Goods subject to VAT are exempted from excise taxc.All products are subject to excise taxd.Lots are subject to excise taxClear my choiceQuestion 5Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for the taxable net estate:Townhouse – P 700,000Toyota Car   - P 300,000Other properties – P 1,100,000Grose Estate – P 2,100,000Less allowed deductionsExpenses, losses etc. – Php 150,000Medical expenses - P 90,000Vanishing deductions – P170,000Family home allowance – P 185,000Standard deductions – P 150,000a.P 1,555,000b.P 1,355,000c.P1,345,000d.P 1,365,000Clear my choiceQuestion 6Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt is an indirect tax and the amount of tax may be shifted or passed on to the buyer, transferee or lessee of the goods, properties or services.a.Value Added Taxb.Excise taxc.Real estate Taxd.Income TaxClear my choiceQuestion 7Not yet answeredMarked out of 1.00Flag questionTipsQuestion textHe is the responsible for subsidiary journals that shall contain accounting requirements.a.Secretary of Legal Affairsb.Secretary on Commission on Auditc.Secretary of Financed.Secretary of Budget ManagementClear my choiceQuestion 8Not yet answeredMarked out of 1.00Flag questionTipsQuestion textOne who is entitled to inherit propertya.Giverb.Payerc.Donord.HeirClear my choiceQuestion 9Not yet answeredMarked out of 1.00Flag questionTipsQuestion textThe following are the amounts of total invoice  costs/prices:Mr. A, a non-VAT taxpayer, sells to Mr. B, a VAT taxpayer   Php 27, 500Mr. B, a VAT taxpayer, sells to Mr. C, a VAT taxpayer   Php 44, 000Mr. C, a VAT taxpayer, sells to Mr. D, a VAT taxpayer and an exporter   Php 77, 000Mr. D, a VAT taxpayer, exports   Php 137, 500Find the VAT of Mr. C.Select one:a.Payable of Php 0b.Refundable of Php 7, 500c.Payable of Php 3, 300d.Payable of Php 9, 240Clear my choiceQuestion 10Not yet answeredMarked out of 1.00Flag questionTipsQuestion textPercentage tax or a Value Added Tax are both business taxes.a.Trueb.None of the abovec.Falsed.Undetermined

Taxes that are based on a proportion of the value of the property ?Select one:a.none of the choicesb.appraisalc.ad valoremd.collection

What are taxes collected on specific products such as tobacco and gasoline called?Group of answer choicesad valorem taxexcise taxluxury taxincome tax

. Imposition of taxes is an attribute that  directs to  which of the 5 industry drivers?Group of answer choicescompetitiontechnologygovernment policycostmarket

Use the figure below to answer the following question.  What area represents tax revenue after the government imposes the excise tax on the market?Multiple Choicetriangle GHItriangle AGBrectangle BGHEtriangle FHE