1. Taxes in general have many distinguishing features, which of the following is NOTa feature to a tax? It is: a. compulsory b. imposed on all subjects c.levied by the ordinary legislative process d.imposed for a private purpose
1. Taxes in general have many distinguishing features, which of the following is NOTa feature to a tax? It is:
a. compulsory
b. imposed on all subjects
c.levied by the ordinary legislative process
d.imposed for a private purpose
2. Which of the following statements is TRUE?
a. The government does not have the sovereign right to tax.
b. A tax is imposed only on subjects who earn income.
c. A tax is a compulsory contribution.
d. A tax is imposed for private purposes
3.Which of the following are direct taxes?
i. Individual income tax
ii.Transfer tax on property
iii. General Consumption Tax
iv.Stamp Duty on transfer of title
- i and ii only
- i, ii and iv only
- ii, iii and iv only
- i, ii, iii and iv
3. _______________ taxes are collected by the seller at the point of sale.
a .Direct
b.Customs
c.Indirect
d.Transfer
5. Which of the following is an indirect tax?
a. Motor vehicle license fee
b. General Consumption Tax
c. Property tax
d. Stamp duty
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