vu fin623 Final Term - Quiz No.1
vu fin623 Taxation Management Quiz
This quiz belongs to book/course code vu fin623 Taxation Management of vu organization. We have 8 quizzes available related to the book/course Taxation Management. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: Which of the following methods of accounting is to adopt for Sole-proprietorship?
Accrual Basis
Cash Basis
Both Accrual and Cash Basis
Free to choose any kind of base
Question 2: As part of remuneration package, a company p costs on actual basis to its employees in case th only, what are the tax consequences of this __________
Treated as taxable
No tax consequences
Partially taxable
Not discussed in Income Tax Ordinance
Question 3: For a non-resident AOP which of the following condition must be satisfied?
Control and management of affairs of AOP is situated partly in Pakistan
Control and management of affairs of AOP is situated wholly in Pakistan
Control and management of affairs of AOP is situated wholly or partly in Pakistan
None of the given options
Question 4: Any income from a business carried on outside Pakistan through permanent establishment by a resident person belongs to which of the following ?
Pakistani source of Income
Foreign source of income
Both Pakistan and foreign source of income
None of the given option
Question 5: Which of the following is the External aid for the interpretation of tax laws?
Preamble
Non-Obstinate clause
Title of a chapter
Finance Ministers budget speech
Question 6: In case of lump sum receipt of income like Golden hand shake the tax payer pays tax in which of the following way?
Average of last 3 years tax rate
Option to choose current or average of last 3 years tax rate
Current tax rate
Previous year tax rate
Question 7: Capital Value Tax was levied on the capital value of assets with effect
1st July, 1989
1st June, 1990
1st July, 2000
1st July, 1999
Question 8: Which one of the following is the example of tax payer?
Salaried Person
LESCO
WAPDA
All of the given options
Question 9: Taxation management is a strategy where by a person manages its business in such a way so as to maximize the utilization of which of the following?
Tax holidays
Exemption, Rebates & Concession
Tax credits
All of the given options
Question 10: Which of the following is the main tool of Fiscal Policy?
Taxes
Deficit Financing
Subsidies
Transfer Payments
