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Question 1Not yet answered Marked out of 1.Flag question Question text The total amount of taxes withheld per BIR Form 2307 that should used as tax credit is:Select one: a. P175, 000 b. P250, c. P575, d. P150, Clear my choiceQuestion 2Not yet answered Marked out of 1.Flag question Question text Tota...

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Question 1 Not yet answered Marked out of 1.00

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Question text The total amount of taxes withheld per BIR Form 2307 that should used as tax credit is: Select one: a. P175,000 b. P250,000 c. P575,000 d. P150,000 Clear my choice Question 2 Not yet answered Marked out of 1.00

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Question text Total amount of tax still payable is Select one: a. P5,826,876 b. P637,530 c.

P575,000 d. P5,189,346 Clear my choice Question 3 Not yet answered Marked out of 1.00

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Question text The total amount of tax credits/payments is: Select one: a. P5,189,346 b. P4,614,346 c. P575,000 d. P5,826,876 Clear my choice Question 4 Not yet answered Marked out of 1.00

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Question text In the preparation of BIR Form No. 1702-MX, what is/are the Alphanumeric Tax Code (ATC) that the company should use? Select one:

a. IC 057 only b. No correct answer c. IC 055 and IC 057 d. IC 055 only Clear my choice Question 5 Not yet answered Marked out of 1.00

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Question text In the preparation of BIR Form No. 1702-MX, at what business year reporting should be marked? Select one: a. Calendar b. Leave it blank c. Fiscal d. Cannot be determined Clear my choice Question 6 Not yet answered Marked out of 1.00

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Question text The total amount of income tax payments under NCIT that should used as tax credit is: Select one: a. P1,496,126 b. P4,614,346 c. P1,748,063 d. P1,370,157 Clear my choice Question 7 Not yet answered Marked out of 1.00

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Question text If the company is to use all the line items of expenses as presented in its income statement in the computation of taxable income, what method of deduction should the company use? Select one: a. Optional Standard Deduction b. Personal Exemption Deduction c. Itemized Deduction d.

All of the answers correct Clear my choice Question 8 Not yet answered Marked out of 1.00

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Question text Is the income tax return being prepared a short period return? Select one: True False Question 9 Not yet answered Marked out of 1.00

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Question text Is the income tax return being prepared an amended return? Select one: True False Question 10 Not yet answered Marked out of 1.00

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Question text Total income tax due is Select one: a. P637,530 b. P5,826,876 c. P5,189,346 d. P575,000 Clear my choice

Question 1 Not yet answered Marked out of 1.00

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Question text How much is the total amount of allowable additional personal exemptions for his dependents? Select one: a. P175,000 b. P100,000 c. P25,000

d. P50,000 Clear my choice Question 2 Not yet answered Marked out of 1.00

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Question text The civil status that Mr. Pedro Juan Cruz should marked on his BIR Form No.1701 is, Select one: a. Married b. Legally separated c. Widow/er d. Single Clear my choice Question 3 Not yet answered Marked out of 1.00

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Question text If Mr. Pedro Juan Cruz is not going to use all the line items of expenses as incurred, what method of deduction should he use? Select one: a.

Personal Exemption Deduction b. Itemized Deduction c. All of the answers correct d. Optional Standard Deduction Clear my choice Question 4 Not yet answered Marked out of 1.00

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Question text The amount of final tax to be withheld on the royalty income earned as an author of a book is: Select one: a. P4,500 b. P14,400 c. P9,000 d. P11,250 Clear my choice Question 5 Not yet answered Marked out of 1.00

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Question text How much is the total gross income from business? Select one: a. P620,000 b. P625,000 c. P613,500 d. P1,238,500 Clear my choice Question 6 Not yet answered Marked out of 1.00

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Question text The amount of final tax to be withheld on the royalty income earned as a franchisee is: Select one: a. P10,000 b. P32,000 c. P25,000 d. P20,000 Clear my choice Question 7 Not yet answered Marked out of 1.00

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Question text The amount of taxable 13th month and other benefits of the taxpayer is: Select one: a. P82,000 b. P90,000 c. P0 d. P8,000 Clear my choice Question 8 Not yet answered Marked out of 1.00

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Question text The amount of taxable income from the business of the taxpayer is: Select one: a. P743,100 b. P740,100 c. P377,000 d. P370,000

Clear my choice Question 9 Not yet answered Marked out of 1.00

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Question text How much is the gross compensation income? Select one: a. P92,000 b. P371,500 c. P521,500 d. P613,500 Clear my choice Question 10 Not yet answered Marked out of 1.00

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Question text The amount of prizes and winnings that would be included in that taxpayer's gross income subjected to basic tax is: Select one: a. P0 b.

P235,000 c. P5,000 d. P230,000

Question 1 Answer saved Marked out of 1.00

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Question text In the preparation of BIR Form No. 1701, at what business year reporting should be marked? Select one: a. Calendar b. Cannot be determined c. Leave it blank d. Fiscal Clear my choice Question 2 Answer saved Marked out of 1.00

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Question text The amount to be included as part of taxable from the allowance given during the annual convention of the taxpayer's profession is:

Select one: a. P0 b. P20,000 c. P1,500 d. P21,500 Clear my choice Question 3 Answer saved Marked out of 1.00

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Question text The total amount of personal exemptions is: Select one: a. P100,000 b. P50,000 c. P150,000 d. P225,000 Clear my choice Question 4 Answer saved Marked out of 1.00

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Question text The total amount of excess deductions is: Select one: a. P0 b. P24,800 c. P5,000 d. P575,000 Clear my choice Question 5 Answer saved Marked out of 1.00

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Question text How much is the taxable compensation income? Select one: a. P92,000 b. P371,500 c. P613,500 d. P521,500

Clear my choice Question 6 Answer saved Marked out of 1.00

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Question text The amount of non-taxable 13th month and other benefits of the taxpayer is: Select one: a. P82,000 b. P90,000 c. P0 d. P8,000 Clear my choice Question 7 Answer saved Marked out of 1.00

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Question text How much is the total net taxable income of Mr. Pedro Juan Cruz? Select one: a. P748,500 b. P1,114,600

c. P1,111,600 d. P741,500 Clear my choice Question 8 Answer saved Marked out of 1.00

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Question text The amount of prizes and winnings that would be subjected to final tax is: Select one: a. P230,000 b. P5,000 c. P235,000 d. P0 Clear my choice Question 9 Answer saved Marked out of 1.00

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Question text Total income tax due is Select one:

a. P321,672 b. P204,520 c. P202,280 d. P320,712 Clear my choice Question 10 Answer saved Marked out of 1.00

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Question text Is the taxpayer allowed to claim additional personal exemptions? Select one: a. Cannot be determined b. Neither yes nor no c. No d. Yes...