Taxation is NOT: a. A contribution for the support of a government required of persons, groups, orbusinesses within the domain of that government b. A means by which governments finance their expenditure by imposing charges oncitizens and corporate entities c. An act by which the sovereign, through its lawmaking body, raises income to defray the necessary expenses d. The process by which the sovereign through its law-making body, imposes burdens upon subjects or objects within its jurisdiction for the purpose of raising revenues to carry outthe legitimate objects of the government

Taxation is NOT: a. A contribution for the support of a government required of persons, groups, orbusinesses within the domain of that government b. A means by which governments finance their expenditure by imposing charges oncitizens and corporate entities c. An act by which the sovereign, through its lawmaking body, raises income to defray the necessary expenses d. The process by which the sovereign through its law-making body, imposes burdens upon subjects or objects within its jurisdiction for the purpose of raising revenues to carry outthe legitimate objects of the government

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 9MC: A governmental agency can best be described by which of the following statements? A. has a primary...

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Which of the following statements are correct? i. A tax is a statutory obligation that is imposed by an act of parliament in a country. ii. A tax is any deduction taken from a person’s salary by the government. iii. Taxation is the major source of government income. iv. Direct and indirect taxes are the two broad categories of taxation.
MC: Topic: Income Taxation The following defines taxation, except: * It is an inherent power of the state. It is an executive prerogative. It is a process of collecting contributions. It is mode of allocating government costs or burden to the people.
Which of the following is not an administrative remedy available to the government? a. Assessment b. Distraint C. Tax Avoidance D. Tax Lien
Which of the following is not an inherent power of a government? A. Eminent Domain B. Police Power C. Taxation D. People Power
These are involuntary fees levied on individuals or corporations and imposed by the government —whether local, regional, or national to finance government activities. a. Taxes b. Excise Taxes c. Property Tax d. VAT
A “tax” has been defined as a compulsory payment which is made to a governmental authority and a. Which is not penalty or fine b. Which is paid in exchange for specific benefit to the taxpayer c. Which is to be used for the public good. d. Two of the above.
Which of the following is not an exclusion from gross income? A. Income of government propertiesB. Income taxes collected by the BIRC. SSS benefitsD. Dividend income payable to a foreign government
Select all the true statements from the following pool of statements: A - Tax, being one of the indispensable inherent powers, is the government's primary source of revenue. B - Generally, government revenues arising from exchange transactions are measured at face amount of the cash consideration received. C- For revenues that are long-term and deferred in nature, the revenue is measured at present value. D- Taxes are enforced payments by any taxable subjects, in support of government for its fiscal purpose. Taxes, being comprehensive in nature, may include fines, fees and penalties. E- Generally, payments made to the government in the form of checks are not allowed.
In taxation: I. What is Inferior to the Non-Impairment Clause of the constitution and Superior to the Non-Impairment Clause of the constitution. II. What do you mean by “receipt of benefits is conclusively presumed”?
1. Which is the most accurate definition of income in the Philippines? Group of answer choices Is the process or means by which through the sovereign, through its law-making body, imposes burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out its legitimage objects of government. Basta pag kumita tataxan Pertinent items of gross income specified in this Code, less deductions, if any, authorized for such types of income by this Code or other special laws. Is the flow of wealth other than by a mere source of capital. 2. The power to tax is provided for by the Constitution, the National Internal Revenue Code, Special Laws, and administrative revenue issuances. Group of answer choices True False 3. Local Government Units, being limited in power, has the power to tax its constituents. Group of answer choices True False 4. The BIR need to assess a taxpayer for payment of taxes Group of answer choices True…
It is the obligation of compulsory taxes on individuals or corporations by governments. Taxes are imposed by most countries in the world, primarily to raise revenue for government expenditures, although they serve other purposes. a. Taxation b. Government Revenues c. Government Assessment
MC: Topic: Income Taxation One of the following is a characteristic of a tax. * Based on contract Assignable Payable in money Absolutely legislative in nature