ACC201
Question: The following deductions are net allowed EXCEPT:
Answer: Bad debts written off
Question: The tax system that the rate decreases as the income of the taxpayer increases is
Answer: Regressive Tax
Question: The tax principle that advocates that a tax system should not discriminate between taxpayers under similar circumstances is:
Answer: Principle of impartiality
Question: The following are examples of benefits in kind EXCEPT:
Answer: Free food provided by the employer
Question: One of the advantages of direct tax include:
Answer: Civil consciousness
Question: A tax of â,|4,000 is imposed on every on every carton of malt sold by a brewery, the amount of tax payable on 250,000 cartons will be
Answer: â,| 100,000,000
Question: Pay As you earn (PAYE) is collected by which government ?
Answer: Local Government
Question: Unearned income may be received :
Answer: Net of witholding tax
Question: tax is levied on the
value of the product being taxed
Answer: Ad valolem
Question: Excise duties, value added tax, import duties etc are examples of:
Answer: Indirect taxes
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