Chapter 7

Question 1

Is the imposition of compulsory levies

Answer 1

Taxation

Question 2

Is a term for when a taxing authority

Answer 2

Taxation

Question 3

It means that the money utilizes

Answer 3

Expenditures

Question 4

Is a tax on document,instrument

Answer 4

Documentary stamp tax

Question 5

Is the levy on the profit

Answer 5

Capital gains tax

Question 6

Does not apply but the manner of distribution

Answer 6

Donor’s tax

Question 7

Is a tax on the production

Answer 7

Excise tax

Question 8

Is a business tax imposed on persons

Answer 8

Percentage tax

Question 9

These process where a product

Answer 9

Value added tax

Question 10

Is an act of deduction or collection

Answer 10

Withholding tax

Question 11

Those who own or manage the property are accountable

Answer 11

Basic real property tax

Question 12

Refers to a tax paid by certain enterprises

Answer 12

Franchise tax

Question 13

Person engaged in the exercise or practice of his profession

Answer 13

Professional tax

Question 14

Taxes are to be collected from the proprietors

Answer 14

Amusement tax

Question 15

Commonly called cedule

Answer 15

Community tax

Question 16

Are people’s legal, social and moral obligation

Answer 16

Taxes

Question 17

Can be local or national

Answer 17

Taxes

Question 18

Compulsory contribution of the people

Answer 18

Taxes

Question 19

A tax imposed by the governments

Answer 19

Documentary stamp tax

Question 20

The law aimed to simplify tax system

Answer 20

Train law

Question 21

It is a tax imposed on the gains

Answer 21

Capital gains tax

Question 22

A tax imposed on all yearly profits

Answer 22

Income tax

Question 23

A taxed impose and collected in every sail

Answer 23

Value added tax

Question 24

A tax is usually calculated as a percentage

Answer 24

Income tax

Question 25

Taxes are impose by the mayors

Answer 25

Local taxes

Question 26

Is is a certification that proves

Answer 26

Barangay clearance

Question 27

In the national scope taxes are primarily imposed

Answer 27

True

Question 28

Taxes does not have any power

Answer 28

True

Question 29

Tax reform always lead to increase funding

Answer 29

False

Question 30

An excise tax imposed on certain god

Answer 30

False

Question 31

A personal poll or capitation

Answer 31

True

Question 32

Capital gains is a tax

Answer 32

False

Question 33

The regressive tax

Answer 33

False

Question 34

Taxes promote science and invention

Answer 34

True

Question 35

A tax is payment

Answer 35

True

Question 36

With the tax reform, we cannot invest more

Answer 36

False

Question 37

Are authorized to generate income

Answer 37

Barangay tax

Question 38

One of the easiest documents

Answer 38

Barangay clearance

Question 39

Aims to clean up the VAT

Answer 39

Train law

Question 40

The transfer of properties

Answer 40

Estate tax