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Business
University -
Professional Development
Basic Principles of Taxation
10 questions
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- 1. Multiple Choice
The process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government
Taxes
Taxation
Assessment
Levy
- 2. Multiple Choice
The following are the theory and basis of taxation, EXCEPT
Lifeblood theory
Necessity theory
Benefits-received principle
Jurisdiction over subject and object
Ability to pay principle
- 3. Fill in the Blank
The basic purpose of taxation is to raise _________.
- 4. Multiple Choice
Characteristics of a sound tax system
Fiscal adequacy
Theoretical justice
Administrative feasibility
Prospectivity of tax laws
- 5. Multiple Choice
It is the use by the taxpayer of legally permissible methods of assessing property or income in order to reduce or entirely escape tax liability
Tax evasion
Tax avoidance
Tax dodging
Tax exemption
- 6. Multiple Choice
Taxation is an inherent power of the sovereign, exercised through the ________ body.
legislative
administrative
judicial
heavenly
- 7. Multiple Choice
______ is the means by which the government, through its law-making body, raises funds to pay for its necessary expenses.
Taxes
Taxation
Assessment
Levy
- 8. Multiple Choice
The following are the stages of taxation, EXCEPT
Levy
Assessment
Collection
Amnesty
Payment
- 9. Multiple Choice
Taxes are the ________ of the government and so should be collected without unnecessary hindrance.
lifeblood
purpose
power
objective
- 10. Multiple Choice
The following are requisites of a valid tax, EXCEPT
tax should be used for public purpose
the rule of taxation should be uniform
the subject or object must be within the State's jurisdiction
tax must not encroach upon inherent and Constitutional limitations
tax is payable in money only
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