A person does not have to complete a return form if he has no income or chargeable income. Select one: True O False
A person does not have to complete a return form if he has no income or chargeable income. Select one: True O False
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdceabba7-44c5-4f5a-b9e5-dab34adb1650%2F4f6887d5-fecb-4a20-8c5e-b2a31afa75c6%2Fhoyyrfu_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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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