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INCOME TAXATION: LAWS, PRINCIPLES AND APPLICATIONS
SOLUTION MANUAL REX BANGGAWAN 2017 EDITION
CHAPTER 1 – INTRODUCTION TO TAXATION
EXERCISE DRILL
1. N
2. I
3. C & I
4. N
5. C
6. C & I
7. C
8. C
9. C
10. C
11. C
12. I
13. C
14. N
15. C
16. C
17. I
18. C
19. N
20. N
TRUE OR FALSE 1
1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
6. FALSE
7. TRUE
8. FALSE
9. TRUE
10. TRUE
TRUE OR FALSE 2
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1. FALSE
2. FALSE
3. TRUE
4. TRUE
5. TRUE
6. TRUE
7. FALSE
8. FALSE
9. FALSE
10. FALSE
MC- THEORY: PART 1
1. A
2. D
3. D
4. A
5. D
6. D
7. A
8. A
9. B
10. C
11. D
12. D
13. C
14. C
15. B
16. D
17. D
18. A
19. D
20. D
21. C
22. C
23. C
24. C
25. B
26. C
27. C
28. D
29. C
30. A
31. B
32. D
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33. A
34. B
MC-THEORY: PART 2
1. A
2. B
3. B
4. A
5. C
6. D
7. C
8. B
9. B
10. B
11. D
12. C
13. C
14. D
15. C
16. A
17. B
18. D
19. C
20. D
21. A
22. B
MC- THEORY: PART 3
1. B
2. A
3. C
4. A
5. C
6. A
7. D
8. D
9. A
10. C
11. B
12. C
13. B
14. C
15. D
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16. A
17. B
18. D
19. B
20. D
21. C
22. D
23. D
24. B
CHAPTER 2 – TAXES, TAX LAWS, AND TAX ADMINISTRATION
EXERCISE DRILL 1
1. OTHER PERCENTAGE TAX
2. DONOR’S TAX
3. REGRESSIVE TAX
4. INDIRECT TAX
5. AD VALOREM
6. FISCAL OR REVENUE TAX
7. NATIONAL TAX
8. EXCISE TAX
9. ESTATE TAX
10. PERSONAL, POLL, OR CAPITATION
11. PROPORTIONAL TAX
12. SPECIFIC TAX
13. DIRECT TAX
14. REGULATORY
15. EXCISE / PRIVELEGE TAX
EXERCISE DRILL 2
1. REVENUE
2. TAX
3. SPECIAL ASSESSMENT
4. CUSTOM’S DUTIES
5. LICENSE FEE
6. TAX
7. DEBT
8. TOLL
9. PENALTY
10. DEBT
EXERCISE DRILL 3
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1. 200,000/QUARTER
2. 1,000,000/YEAR
3. 1,000000/YEAR
4. 1,000,000/YEAR
5. 200,000/QUARTER
6. 1,000,000/YEAR
1. 1,000,000,000 IN A YEAR
2. 300,000,000 AT A YEAR END
3. 800,000,000 IN THE PRECEDING YEAR
MC- THEORY: PART 1
1. B
2. A
3. C
4. C
5. B
6. A
7. A
8. B
9. C
10. D
11. A
12. B
13. B
14. C
15. C
16. D
17. D
18. D
19. C
20. D
21. D
22. B
23. A
24. B
25. B
26. A
27. D
28. B
29. B
30. C
31. D
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32. D
33. C
34. A
35. D
36. B
37. D
38. B
39. D
40. A
41. B
42. A
43. D
44. A
45. C
MC- THEORY: PART 2
1. A
2. C
3. A
4. D
5. D
6. C
7. C
8. A
9. D
10. B
11. C
12. D
13. D
14. A
MC- THEORY: PART 3
1. B
2. C
3. A
4. A
5. B
6. D
7. D
8. C
9. A
10. A
11. D
12. B
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13. B
14. D
15. C
16. D
17. C
18. A
19. C
20. D
21. D
22. B
CHAPTER 3 – INTRODUCTION TO INCOME TAXATION
EXERCISE DRILL 1
1. 1,000,000 – 0
2. 400,000 – 100,000
3. 300,000 – 0
4. 0 – 600,000
5. 1,200,000 – 0
EXERCISE DRILL 2
1. INCOME TAX
2. INCOME TAX
3. INCOME TAX
4. TRANSFER TAX
5. TRANSFER TAX
6. INCOME AND TRANSFER TAX
EXERCISE DRILL 3
1. TAXABLE
2. TAXABLE
3. EXEMPT
4. EXEMPT
5. TAXABLE
6. TAXABLE
7. TAXABLE
8. EXEMPT
9. EXEMPT
10. TAXABLE
11. TAXABLE
12. EXEMPT
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13. EXEMPT
14. EXEMPT
15. EXEMPT
16. TAXABLE
17. TAXABLE
18. EXEMPT
19. EXEMPT
20. EXEMPT
21. EXEMPT
22. EXEMPT
EXERCISE DRILL 4
1. NRA- NETB
2. NRC
3. NRC
4. RC
5. RC
6. NRA- NETB
7. RA
8. RA
9. DC
10. RFC
11. RC
12. NT
13. DC
14. NRFC
15. NRC
16. NT
17. DC
18. DC
EXERCISE DRILL 5
1. PI
2. PI
3. PI
4. PI
5. WI
6. PI
7. PI
8. WI
9. WI
10. PI
EXERCISE DRILL 6
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1. 60K – 40K
2. 600K – 400K
3. 40K – 100K
4. 120K – 0
5. 0 – 500K
6. 40K – 0
7. 2M – 0
8. 50K – 0
9. 20K – 30K
10. 24K – 16K
11. 100K – 0
12. 150K – 100K
13. 0 – 100K
14. 0 – 20K
15. 400K – 0
MC- THEORY: PART 1
1. C
2. D
3. A
4. A
5. A
6. D
7. B
8. B
9. B
10. B
11. B
12. A
13. C
14. D
15. D
16. D
MC- THEORY: PART 2
1. A
2. B
3. B
4. C
5. D
6. B
7. C
8. A
9. A
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10. A
11. C
12. B
13. C
14. D
15. C
16. A
17. D
18. C
MC- THEORY: PART 3
1. A
2. A
3. A
4. D
5. D
6. C
7. D
MC- PROBLEMS
1. B
2. C
3. C
4. A
5. C
6. C
7. A
8. C
9. C
10. D
11. C
12. D
13. D
14. C
15. A
16. D
17. C
18. D
19. D
20. A
21. B
22. C
23. D,C,B,D
CASE PROBLEMS 1
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1. 1,040,000
2. 760,000
CASE PROBLEM 2
1. 750,000
2. 340,000
CASE PROBLEM 3
1. A
CHAPTER 4 – INCOME TAX SCHEMES, ACCOUNTING PERIODS, METHODS, & REPORTING
TRUE OR FALSE 1
1. F
2. T
3. F
4. T
5. T
6. F
7. T
8. F
9. T
10. T
11. T
12. F
13. T
14. F
15. T
TRUE OR FALSE 2
1. T
2. T
3. T
4. T
5. T
6. F
7. T
8. F
9. T
10. F
11. F
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12. F
13. T
14. F
15. T
16. F
17. T
18. T
19. T
20. T
MC- THEORY: PART 1
1. A
2. D
3. B
4. C
5. D
6. D
7. D
8. A
9. B
10. A
11. B
12. B
13. C
14. B
15. C
16. B
17. C
18. A
19. B
20. C
MC- PROBLEM 1
1. B
2. C
3. B
4. C
5. B
6. B
7. B
8. C
9. C
10. A
MC- PROBLEM 2
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1. A
2. B
3. B
4. D
5. C
6. D
7. C
8. C
9. D
10. A
11. B
12. C
13. A
14. B
15. B
16. A
17. D
18. A
19. B
20. D
MC- PROBLEM 3
1. A
2. C
3. D
4. C
5. B
6. B
7. C
8. A
9. A
CHAPTER 5 – FINAL INCOME TAXATION
TRUE OR FALSE 1
1. T
2. F
3. F
4. T
5. F
6. T
7. F
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8. F
9. F
10. F
11. F
12. F
13. F
14. F
15. T
16. F
17. F
TRUE OR FALSE 2
1. F
2. F
3. F
4. F
5. T
6. T
7. F
8. F
9. T
10. T
11. T
12. F
13. T
14. F
15. T
MC- THEORY 1
1. A
2. B
3. D
4. D
5. B
6. C
7. A
8. D
9. C
10. C
11. C
12. C
13. C
14. C
15. A
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MC- THEORY 2
1. B
2. B
3. D
4. B
5. D
6. D
7. A
8. C
9. C
10. D
11. A
12. D
13. A
14. A
15. D
16. D
17. D
18. C
MC- PROBLEM 1
1. D
2. C
3. A
4. A
5. C
6. C
7. C
8. D
9. B
10. B
11. A
12. A
13. B
14. A
15. D
MC- PROBLEM 2
1. B
2. C
3. B
4. D
5. A
6. B
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7. B
8. D
9. C
10. D
11. D
12. D
13. C
14. A
15. B
MC- PROBLEM 3
1. B
2. A
3. D
4. D
5. B
6. D
7. D
8. A
9. C
10. C
11. D
12. C
13. A
CHAPTER 6 – CAPITAL GAINS TAXATION
TRUE OR FALSE 1
1. T
2. F
3. T
4. F
5. F
6. F
7. T
8. T
9. T
10. T
11. T
12. T
13. T
14. F
15. F
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16. F
17. T
18. F
19. F
20. F
TRUE OR FALSE 2
1. T
2. F
3. F
4. F
5. T
6. T
7. F
8. T
9. F
10. T
11. T
12. F
13. T
14. T
15. F
16. T
17. F
18. T
19. F
20. T
MC- THEORY: PART 1
1. C
2. A
3. C
4. D
5. D
6. C
7. A
8. C
9. D
10. A
11. C
12. D
13. A
14. C
15. D
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MC- THEORY: PART 2
1. D
2. C
3. D
4. D
5. C
6. A
7. C
8. D
9. C
10. B
11. D
12. C
13. B
14. A
15. B
16. A
17. B
MC- THEORY: PART 3
1. A
2. C
3. A
4. B
5. C
6. D
7. A
8. D
9. C
10. D
11. A
12. B
13. D
14. D
15. A
MC- PROBLEM 1
1. D
2. D
3. C
4. D
5. C
6. C
7. D
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8. A
9. A
10. B
11. D
12. B
13. C
14. B
15. A
16. A
MC- PROBLEM 2
1. A
2. D
3. D
4. D
5. C
6. D
7. B
8. A
9. A
10. C
MC- PROBLEM 3
1. A
2. D
3. C
4. A
5. D
6. C
7. B
8. D
9. D
10. A
11. A
12. B
MC- PROBLEM 4
1. A
2. B
3. C
4. B
5. C
6. C
7. B
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8. C
9. D
10. D
11. C
12. B
CHAPTER 7 – INTRODUCTION TO REGULAR INCOME TAX
TRUE OR FALSE 1
1. T
2. F
3. F
4. F
5. T
6. F
7. F
8. T
9. F
10. T
TRUE OR FALSE 2
1. T
2. F
3. F
4. T
5. F
6. T
7. T
8. T
9. T
10. F
MC- THEORY: PART 1
1. C
2. A
3. D
4. C
5. A
6. D
7. A
8. D
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9. B
10. B
11. D
12. B
13. B
14. A
15. C
16. D
17. C
18. D
19. A
20. A
21. D
22. A
MC- THEORY: PART 2
1. D
2. D
3. C
4. D
5. A
6. A
7. B
8. A
9. D
10. A
11. B
12. A
13. B
14. B
15. D
16. C
17. D
18. A
19. C
20. D
21. D
22. D
23. A
24. B
25. A
MC- PROBLEM 1
1. A
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2. C
3. A
4. D
5. A
6. C
7. B
8. A
9. C
10. A
11. C
12. A
13. D
MC- PROBLEM 2
1. B
2. C
3. D
4. A
5. B
6. A
7. B
8. B
CHAPTER 8– REGULAR INCOME TAX: EXCLUSIONS FROM GROSS INCOME
TRUE OR FALSE 1
1. T
2. T
3. F
4. F
5. F
6. T
7. T
8. F
9. T
10. F
11. T
12. T
13. F
14. F
15. F
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TRUE OR FALSE 2
1. F
2. T
3. F
4. T
5. T
6. F
7. T
8. T
9. F
10. T
11. F
12. T
13. F
14. T
15. F
MC- THEORY 1
1. C
2. B
3. C
4. D
5. B
6. B
7. A
8. D
9. B
10. D
11. A
12. D
13. C
14. A
15. C
MC-THEORY 2
1. D
2. D
3. A
4. B
5. A
6. C
7. D
8. C
9. A
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10. C
11. B
12. C
13. B
14. C
15. A
MC- PROBLEM 1
1. D
2. D
3. C
4. C
5. B
6. A
7. D
8. A
9. C
10. C
11. A
12. B
13. C
14. A
15. D
MC- PROBLEM 2
1. B
2. A
3. A
4. C
5. D
6. D
7. A
8. C
9. D
10. A
11. B
12. C
13. A
14. C
15. D
CHAPTER 9 – REGULAR INCOME TAX: INCLUSIONS IN GROSS INCOME
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TRUE OR FALSE 1
1. T
2. T
3. F
4. T
5. F
6. T
7. T
8. T
9. T
10. T
11. T
12. F
13. T
14. T
15. F
16. F
17. T
18. F
19. T
20. T
TRUE OR FALSE 2
1. T
2. F
3. T
4. T
5. F
6. T
7. T
8. F
9. F
10. F
11. F
12. F
13. F
14. F
15. F
16. F
17. T
18. T
19. F
20. F
21. T
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22. F
23. T
24. F
25. T
26. F
27. T
MC- THEORY: PART 1
1. D
2. A
3. C
4. C
5. B
6. C
7. D
8. B
9. B
10. C
11. B
12. D
13. D
14. A
15. A
16. A
17. C
18. D
19. B
20. A
MC- THEORY: PART 2
1. A
2. D
3. D
4. B
5. C
6. B
7. D
8. B
9. C
10. C
11. D
12. B
13. D
14. C
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15. A
MC- PROBLEM 1
1. D
2. D
3. B
4. A
5. C
6. C
7. A
8. C
9. A
10. A
11. B
12. D
13. B
14. C
15. B
16. A
17. C
18. C
19. D
20. B
21. A
22. D
23. C
MC- PROBLEM 2
1. C
2. A
3. B
4. C
5. D
6. A
7. A
8. D
9. D
10. A
11. C
12. C
13. C
14. D
15. B
16. C
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17. A
18. A
19. D
20. A
MC- PROBLEM 3
1. D
2. B
3. D
4. D
5. C
6. A
7. A
8. A
9. B
10. C
CHAPTER 10 – COMPENSATION INCOME
TRUE OR FALSE 1
1. T
2. F
3. T
4. T
5. T
6. F
7. F
8. T
9. T
10. F
11. T
12. F
13. F
14. T
15. T
16. F
17. F
18. F
19. F
20. T
TRUE OR FALSE 2
1. F
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2. T
3. F
4. T
5. T
6. T
7. T
8. F
9. F
10. F
11. T
12. F
13. T
14. F
15. F
16. F
17. T
18. T
19. T
20. F
21. F
22. F
23. F
24. T
25. F
26. T
27. F
28. T
29. T
30. T
EXERCISE DRILL 1
1. DM-DM
2. SC-SC
3. DM-DM
4. DM-DM
5. OB-OB
6. RC-RC
7. DM-DM
8. OB-OB
9. OB-OB
10. DM-DM
11. DM-DM
12. EB-EBB
13. OB-FB
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14. RC-RC
15. SC-SC
16. OB-FB
17. SC-SC
18. SC-SC
19. EB-EB
20. RC-RC
21. OB-FB
22. DM&OB FOR EXCESS – DM&FB FOR EXCESS
23. EB-EB
24. EB-EB
25. SC-SC
EXERCISE DRILL 2
1. 62.5 – 5925
2. 4000 – 2000
3. 125 – 10500
4. 0 – 6000
5. 10000 – 2000
6. 5000 – 3000
7. 300 – 2400
8. 0 – 10000
9. 5000 – 3000
10. 1500 – 6000
EXERCISE DRILL 3
1. 242000
EXERCISE DRILL 4
1. 43000
2. 0
EXERCISE DRILL 5
1. 1328000 – 0 – 0
2. 1315000 – 0 – 13000
3. 0 – 1415000 – 13000
EXERCISE DRILL 6
1. 48000
2. 97000
3. 153000
MC- THEORY: PART 1
1. D
Comment [SO1]:
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2. C
3. C
4. A
5. C
6. C
7. D
8. C
9. C
10. A
11. D
12. D
13. A
14. B
15. D
MC- THEORY: PART 2
1. A
2. D
3. A
4. B
5. A
6. D
7. C
8. D
9. C
10. C
11. D
12. D
13. C
14. B
15. C
16. B
17. C
18. C
19. C
20. D
21. A
22. D
23. B
MC- PROBLEM 1
1. D
2. B
3. A
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4. D
5. A
6. C
7. D
8. A
9. C
10. D
11. A
12. D
13. D
14. B
15. B
MC- PROBLEM 2
1. C
2. C
3. C
4. A
5. B
6. B
7. C
8. A
9. A
10. B
11. A
12. B
13. C
14. D
15. C
16. C
17. B
CHAPTER 11 – FRINGE BENEFIT TAX
TRUE OR FALSE 1
1. F
2. F
3. T
4. T
5. T
6. F
7. F
8. F
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9. T
10. T
TRUE OR FALSE 2
1. F
2. T
3. F
4. T
5. T
6. T
7. T
8. T
9. T
10. T
11. T
12. F
13. T
14. T
15. F
MC- THEORY 1
1. D
2. A
3. A
4. B
5. C
6. B
7. D
8. A
9. C
10. C
11. A
12. C
13. A
14. C
15. A
MC- THEORY 2
1. D
2. A
3. A
4. B
5. C
6. C
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7. A
8. D
9. A
10. A
MC- PROBLEM 1
1. D
2. A
3. D
4. B
5. C
6. D
7. A
8. C
9. A
10. C
MC- PROBLEM 2
1. C
2. C
3. B
4. B
5. B
6. A
7. D
8. C
9. D
10. A
MC- PROBLEM 3
1. B
2. D
3. B
4. D
5. C
6. C
7. D
8. B
9. A
10. C
11. C
12. C
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CHAPTER 12 – DEALINGS IN PROPERTIES
TRUE OR FALSE 1
1. T
2. T
3. T
4. T
5. F
6. T
7. T
8. F
9. F
10. F
11. F
12. F
13. F
14. F
15. T
TRUE OR FALSE 2
1. T
2. T
3. T
4. F
5. F
6. T
7. T
8. F
9. T
10. F
11. F
12. F
13. T
14. T
15. F
MC- THEORY: PART 1
1. D
2. A
3. D
4. C
5. A
6. D
7. A
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8. B
9. D
10. A
11. C
12. B
13. C
14. A
15. A
16. C
17. B
18. C
19. C
20. A
21. A
22. B
23. B
24. C
25. D
26. C
27. A
28. D
29. C
30. B
MC- THEORY: PART 2
1. A
2. B
3. C
4. A
5. A
6. B
7. B
8. C
9. C
10. A
11. B
12. D
13. A
14. A
15. C
16. B
17. D
MC- PROBLEM 1
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1. D
2. C
3. B
4. D
5. A
6. C
7. B
8. D
9. C
10. C
11. D
12. D
13. A
14. A
15. A
16. D
MC- PROBLEM 2
1. D
2. D
3. C
4. A
5. B
6. C
7. D
8. D
9. D
10. D
11. C
12. A
13. B
14. D
15. B
16. A
17. D
CHAPTER 13 – PRINCIPLES OF DEDUCTIONS
EXERCISE DRILL 1
1. PE
2. BE
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3. BE
4. PE
5. PE
6. BE
7. PE
8. BE
9. BE
10. PE
11. PE
12. BE
13. PE
14. BE
15. BE
EXERCISE DRILL 2
1. - , - , 200K
2. 25K, 50K, 50K
3. -, 200K, -
4. -, 200K, -
5. 100K, 100K, -
EXERCISE DRILL 3
1. 1960000
EXERCISE DRILL 4
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EXERCISE DRILL 5
1. NDE
2. DE
3. CE
4. NDE
5. CE
6. NDE
7. CE
8. NDE
9. DE
10. CE
11. NDE
12. NDE
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13. NDE
14. NDE
15. NDE
16. DE
17. CE
18. CE
19. CE
20. DE
21. DE
22. DE
23. NDE
24. NDE
25. NDE
26. NDE
27. DE
28. NDE
29. NDE
30. NDE
TRUE OR FALSE 1
1. T
2. F
3. F
4. T
5. F
6. T
7. T
8. F
9. F
10. T
TRUE OR FALSE 2
1. F
2. T
3. T
4. F
5. T
6. F
7. T
8. F
9. F
10. F
MC- THEORY: PART 1
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1. C
2. A
3. A
4. A
5. C
6. B
7. B
8. B
9. B
10. C
11. D
12. D
13. B
14. D
15. B
16. D
17. A
18. A
19. B
20. D
21. D
22. C
23. C
24. D
25. C
MC- THEORY: PART 2
1. D
2. D
3. A
4. B
5. B
6. A
7. D
8. D
9. D
10. A
11. D
12. D
13. C
14. C
15. D
16. D
17. A
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18. D
19. A
20. D
21. B
22. C
23. A
24. D
25. D
MC- PROBLEM 1
1. A
2. A
3. A
4. C
5. B
6. C
7. B
8. B
9. C
10. A
11. C
12. D
13. A
14. B
15. D
16. A
MC- PROBLEM 2
1. A
2. A
3. C
4. B
5. C
6. B
7. A
8. B
9. A
10. D
11. C
12. A
13. B
14. B
15. D
MC- PROBLEM 3
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1. B
2. D
3. D
4. D
5. A
6. D
7. C
8. B
9. C
10. B
CHAPTER 13A – REGULAR ALLOWABLE ITEMIZED DEDUCTIONS
TRUE OR FALSE 1
1. F
2. T
3. F
4. T
5. T
6. T
7. F
8. T
9. F
10. T
11. F
12. F
13. T
14. F
15. T
TRUE OR FALSE 2
1. T
2. F
3. F
4. T
5. F
6. T
7. T
8. T
9. F
10. T
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11. F
12. T
13. T
14. F
15. T
TRUE OR FALSE 3
1. T
2. T
3. T
4. F
5. T
6. T
7. T
8. T
9. T
10. T
11. T
12. F
13. F
14. F
15. F
16. F
17. T
18. T
19. F
20. T
21. F
MC- THEORY: PART 1
1. C
2. A
3. A
4. D
5. C
6. C
7. C
8. D
9. C
10. D
11. C
12. A
13. B
14. C
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15. C
MC- THEORY: PART 2
1. C
2. D
3. A
4. A
5. D
6. C
7. B
8. A
9. D
10. D
MC- PROBLEM 1
1. A
2. C
3. D
4. A
5. D
6. B
7. C
8. D
9. B
10. A
11. C
12. C
13. C
14. C
15. C
MC- PROBLEM 2
1. B
2. A
3. D
4. C
5. B
6. B
7. C
8. C
9. C
10. B
11. B
12. C
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13. C
14. C
15. B
16. C
CHAPTER 13B – SPECIAL ALLOWABLE ITEMIZED DEDUCTIONS AND NET OPERATING LOSS CARRY-OVER
TRUE OR FALSE 1
1. F
2. F
3. T
4. F
5. T
6. T
7. F
8. T
9. F
10. F
11. T
12. T
13. T
14. T
15. T
16. F
17. T
18. F
19. T
20. T
EXERCISE DRILL
MC-PROBLEM 1
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1. D
2. B
3. B
4. A
5. B
6. B
7. B
8. D
9. B
10. D
11. D
12. D
13. A
14. D
15. D
16. C
17. A
18. C
19. B
20. B
21. B
22. C
MC- PROBLEM 2
1. B
2. A
3. B
4. A
5. B
6. A
7. B
8. C
9. D
10. A
11. B
CHAPTER 13C – OPTIONAL STANDARD DEDUCTION
TRUE OR FALSE
1. T
2. F
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3. F
4. T
5. F
6. F
7. F
8. T
9. T
10. T
11. F
12. T
13. T
14. F
15. T
16. F
17. F
18. T
19. F
20. F
EXERCISE DRILL 1
1. /
2. /
3. /
4.
5. /
6. /
7.
8.
9. /
10. /
EXERCISE DRILL 2
1. 2080000
2. 1008000
EXERCISE DRILL 3
1. 3120000 – 3600000
2. 1380000 – 1740000
EXERCISE DRILL 4
1. 2000000
2. 840000
MC- THEORY 1
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1. A
2. D
3. A
4. B
5. A
6. D
7. A
8. B
9. D
10. A
11. D
12. D
MC- THEORY 2
1. C
2. A
3. D
4. D
5. C
6. B
7. D
8. D
9. A
10. C
11. D
12. C
13. C
14. A
MC- PROBLEM 1
1. D
2. A
3. A
4. D
5. B
6. C
7. B
8. A
9. B
10. A
MC- PROBLEM 2
1. C
2. B
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3. B
4. C
5. A
6. A
7. B
8. C
CHAPTER 14 – INDIVIDUAL INCOME TAXATION
TRUE OR FALSE 1
1. F
2. F
3. F
4. T
5. F
6. F
7. F
8. F
9. T
10. F
11. F
12. T
13. T
14. F
15. T
TRUE OR FALSE 2
1. F
2. F
3. T
4. F
5. F
6. T
7. F
8. T
9. F
10. T
11. F
12. T
13. F
14. F
15. F
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TRUE OR FALSE 3
1. T
2. T
3. F
4. T
5. T
6. T
7. F
8. F
9. T
10. T
11. T
12. F
13. T
14. T
15. F
16. F
17. T
18. F
19. T
20. F
MC- THEORY: PART 1
1. A
2. C
3. D
4. A
5. A
6. B
7. C
8. A
9. A
10. D
11. B
12. D
13. A
14. C
15. B
MC- THEORY: PART 2
1. D
2. C
3. A
4. D
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5. C
6. D
7. D
8. D
9. D
10. A
11. A
12. A
13. C
14. D
15. D
MC-THEORY: PART 3
1. C
2. D
3. A
4. C
5. A
6. A
7. D
8. D
9. A
10. D
11. A
12. A
13. D
14. C
15. A
16. B
17. C
18. C
19. D
20. C
MC- PROBLEM 1
1. A
2. A
3. C
4. B
5. B
6. A
7. B
8. C
9. C
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10. B
11. C
12. D
13. B
14. D
15. B
16. C
17. C
MC- PROBLEM 2
1. D
2. B
3. D
4. B
5. A
6. A
7. D
8. A
9. C
10. B
11. D
12. A
13. B
14. B
15. B
16. A
MC- PROBLEM 3
1. C
2. A
3. C
4. C
5. B
6. C
7. B
8. B
9. C
10. B
11. A
12. B
13. D
14. C
15. A
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CHAPTER 15A – CORPORATE INCOME TAXATION – SPECIAL CORPORATION
MC- THEORY 1
1. D
2. A
3. A
4. D
5. A
6. A
7. C
8. D
9. B
10. A
11. C
12. D
13. D
14. C
15. D
MC- THEORY 2
1. C
2. C
3. D
4. B
5. C
6. B
7. D
8. B
9. D
10. B
11. D
12. C
13. B
14. A
15. A
16. B
17. C
MC- PROBLEM 1
1. D
2. A
3. B
4. B
5. D
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6. A
7. B
8. C
9. C
10. A
11. C
12. B
MC- PROBLEM 2
1. A
2. C
3. B
MC- PROBLEM 3
1. B
2. B
MC- PROBLEM 4
1. A
2. D
3. D
4. C
5. D
6. C
7. C
8. B
MC- PROBLEM 5
1. D
2. B
MC-PROBLEM 6
1. D
2. B
MC- PROBLEM 7
1. C
2. C
MC- PROBLEM 8
1. D
2. A
3. A
4. C
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5. D
6. B
7. B
MC-PROBLEM 9
1. D
2. D
CHAPTER 15B – CORPORATE INCOME TACATION – REGULAR CORPORATION
MC- THEORY: PART 1
1. C
2. C
3. A
4. D
5. D
6. D
7. C
8. C
9. A
10. B
11. A
12. C
13. D
14. C
15. D
MC- THEORY: PART 2
1. B
2. B
3. C
4. A
5. D
6. D
7. A
8. A
9. D
10. C
11. A
12. D
13. A
14. B
15. A
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MC- THEORY: PART 3
1. A
2. A
3. A
4. B
5. A
6. D
7. C
8. A
9. D
10. D
11. D
12. B
13. C
14. B
15. A
MC- PROBLEM 1
1. C
2. B
3. C
4. A
5. D
6. D
7. B
8. C
9. C
10. C
11. D
12. A
13. C
14. C
15. C
16. B
17. D
MC- PROBLEM 2
1. C
2. D
3. A
4. D
5. B
6. B
7. C
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8. D
9. A
10. B
11. B
12. B
13. A
14. C
15. C
16. B
17. C
18. D