FIN623 - Taxation Management

All MCQs Tests - VU FIN623 - Taxation Management

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Subject	FIN623 - Taxation Management			Chapter / Term	All MCQs
Quiz No	1	Total Time	10 Minute(s)	No. of Questions	10 Question(s)

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Chapter / Term

Time

Question(s)

Q1

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

Q2

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

Q3

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

Q4

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

Q5

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

Q6

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

Q7

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

Q8

Question 8: Which one of the following is the example of tax payer?

Salaried Person

LESCO

WAPDA

All of the given options

Q9

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