An assessment is made on a prescribedform which must be served on the taxpayer.The following are TRUE regarding types ofassessment EXCEPT:a. Additional assessment (Form CP61)- additional assessment raised bythe DG in the event of omission bythe taxpayer, error or refund, oradditional income not consideredReduced assessment (Form CP56)- appeal made by the taxpayer toreduce tax and being approved bythe DGOriginal assessment (Form CP9) -based on information provided bythe taxpayerd.Conditional assessment (FormCP10) – comprises a few YA andusually include penaltyA person does not have to complete areturn form if he has no income orchargeable income.Select one:O TrueFalse

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Accounting

A person does not have to complete a return form if he has no income or chargeable income. Select one: True O False

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

An assessment is made on a prescribed
form which must be served on the taxpayer.
The following are TRUE regarding types of
assessment EXCEPT:
a. Additional assessment (Form CP61)
- additional assessment raised by
the DG in the event of omission by
the taxpayer, error or refund, or
additional income not considered
Reduced assessment (Form CP56)
- appeal made by the taxpayer to
reduce tax and being approved by
the DG
Original assessment (Form CP9) -
based on information provided by
the taxpayer
d.
Conditional assessment (Form
CP10) – comprises a few YA and
usually include penalty
A person does not have to complete a
return form if he has no income or
chargeable income.
Select one:
O True
False

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