Which of the following statements is correct? I. Taxes are pecuniary in nature II. Taxes co-exist with the existence of the State III. Imposed on persons and property beyond the territorial
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1. Which of the following statements is correct?
I. Taxes are pecuniary in nature
II. Taxes co-exist with the existence of the State
III. Imposed on persons and property beyond the territorial jurisdiction of the State
a. I only
b. II only
c. I and II only
d. I, II and III
2. One of the following is not a characteristic or an element of tax.
a. It is levied by the legislature
b. It is payable in money or in kind
c. It is proportionate in character
d. It is an enforced contribution
3. Toll as distinguished from tax.
a. Demand of sovereignty
b. Imposed by government only
c. Amount is based on the cost of construction of public improvement
d. Paid for the support of the government
4. Debt as distinguished from tax.
a. Based on law
b. May be paid in kind
c. Does not draw interest except when delinquent
d. Generally not subject to set-off or compensation
5. Statement 1: Tax avoidance is a scheme used outside of those lawful means to escape tax liability.
Statement 2: Tax avoidance is a tax saving device within the means sanctioned by law, and, when availed of, it usually subjects the taxpayer to further or additional civil or criminal liabilities.
a. Only statement 1 is correct
b. Only statement 2 is correct
c. Both statements are correct
d. Both statements are incorrect
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