BY Sadia Ali: FIN623 Online Quiz#2..Lecture# 1 To 15 Solved by
BY Sadia Ali: FIN623 Online Quiz#2..Lecture# 1 To 15 Solved by
BY Sadia Ali: FIN623 Online Quiz#2..Lecture# 1 To 15 Solved by
Lecture# 1 to 15
Solved By
BY sadia ali
Question # 2 of 15 ( Start time: 12:33:31 AM ) Total Marks: 1
Senior citizen-age 60 years & above where taxable income not exceeding ________ tax
liability reduced by 50% under Part 3 of second schedule.
Select correct option:
Rs. 200,000
Rs. 300,000
Rs. 400,000
Rs. 1,000,000
A Public Holiday
A day of sick leave
Any strike
None of the given options
Section 81
Section 82
Section 83
Section 84
Resident Individual
Non- Resident Individual
Resident HUF
Resident AOP
Resident Person
Resident Company
Resident AOP
Resident HUF
Resident Individual
Non Resident Individual
Resident Person
Resident HUF
and junior commissioned officers or other ranks shall be taxed at the rate of __________
as separate block.
Select correct option:
2.5%
5.5%
7.5%
9.5%
Section 80
Section 81
Section 82
Section 83
Resident Individual
BY sadia ali
Resident Company
Resident AOP
Resident HUF
Wholly taxable
Wholly exempt
Partly taxable
Not mention in second schedule
3
6
12
18
Taxes
Deficit Financing
Subsidies
Transfer Payments
2006
2007
2008
2009
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Convenience
Judicious
Capacity to Pay
Business friendly
Part IV
Part V
Part VI
Part VII
Simplicity
Convenience
Certainty
Capacity to Pay
Gross Receipt
Total Income
Taxable Income
Gross Income
Relax
Lighten
Relieve
Fatigue
Accrual Basis
Cash Basis
Both accrual and cash bases
Free to choose any kind of base
Wholly Taxable
Wholly Exempt
Partly Exempt
Not mention in Ordinance
Proportional tax
Progressive tax
Regressive tax
Corporate tax
Parliament
Supreme Court
High Court
Superior Judiciaries
Taxable Income
Residential Status
Tax Year
All of the given options
Individual
Firm
Banking Company
Hindu Undivided Family
Question # 7 of 15 ( Start time: 09:58:37 PM ) Total Marks: 1
Which part of Income Tax Ordinance 2001 deals with the Exemptions and Tax
Concessions?
Select correct option:
Part IV
Part V
Part VI
Part VII
Income tax
Inheritance tax
Property tax
Sales tax
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Cash basis
Accrual basis
Both cash and accrual basis
Free to choose any kind of base
Economic Development
Price stability
Removal of deficit in Balance of Payment
All of the given options
Return
Statement
Sheet
Report
BY sadia ali
Question # 1 of 15 ( Start time: 10:43:47 PM ) Total Marks: 1
Which one of the following is the general meaning of Tax?
Select correct option:
Relax
Lighten
Relieve
Fatigue
Accrual Basis
Cash Basis
Both accrual and cash bases
Free to choose any kind of base
3
6
12
18
Burden
Endurance
Patience
Fortitude
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Convenience
Judicious
Capacity to Pay
Business friendly
Direct taxes
Indirect Taxes
Value Added Taxes
Fees and Penalties
Preamble
Non-Obstinate clause
Title of a chapter
Finance Minister’s budget speech
Income tax
Inheritance tax
Property tax
Sales tax
Cash Gift
Salary
Loan through cross cheque
Golden hand shake
Wholly Taxable
Wholly Exempt
Partly Exempt
Not mention in Ordinance
BY sadia ali
Custom duty
Income tax
Sales tax
Wealth tax
Taxes
Deficit Financing
Subsidies
Transfer Payments
Wholly taxable
Wholly exempt
Partially exempt
Section is silent about it
Economic Development
Price stability
Removal of deficit in Balance of Payment
All of the given options
Chapters
Sections
Schedules
All of the given options
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Fee
Taxes
Charges
Penalties
Pension
Golden shake hand
Provident fund
All of the given options
An Individual
The Federal Government
Public International Organization
None of the given option
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Cash Gift
Salary
Loan through cross cheque
Golden hand shake
BY sadia ali
Question # 7 of 15 ( Start time: 05:36:02 PM ) Total Marks: 1
Which of the following tax is payable on merchandise imported or exported from one
country to another?
Select correct option:
Custom duty
Income tax
Sales tax
Wealth tax
Chapters
Sections
Schedules
All of the given options
Convenience
Judicious
Capacity to Pay
Business friendly
Simplicity
Convenience
Certainty
Capacity to Pay
Section 40
Section 41
Section 45
Section 46
Relax
Lighten
Relieve
Fatigue
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
BY sadia ali
Question # 1 of 15 ( Start time: 05:44:35 PM ) Total Marks: 1
Non-Agricultural income includes which one of the following?
Select correct option:
High Court
Supreme Court
Income Tax Department
Provincial Government
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
Income tax
Inheritance tax
Property tax
Sales tax
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
Wholly taxable
Wholly exempt
Partially exempt
Section is silent about it
Pension
Golden shake hand
Provident fund
All of the given options
Question # 10 of 15 ( Start time: 05:50:22 PM ) Total Marks: 1
Which of the following is NOT the type of tax?
Select correct option:
Direct taxes
Indirect Taxes
Value Added Taxes
Fees and Penalties
Taxes
Deficit Financing
Subsidies
Transfer Payments
Economic Development
Price stability
Removal of deficit in Balance of Payment
All of the given options
Wholly Taxable
Wholly Exempt
Partly Exempt
Not mention in Ordinance
Cash Gift
BY sadia ali
Salary
Loan through cross cheque
Golden hand shake
Salaries paid
Purchases
Office expenditures
All of the given options
Wholly Taxable
Wholly Exempt
Partly Exempt
Not mention in Ordinance
Taxable Income
Residential Status
Tax Year
All of the given options
Section 40
Section 41
Section 45
Section 46
Simplicity
Convenience
Certainty
Capacity to Pay
Proportional tax
Progressive tax
BY sadia ali
Regressive tax
Corporate tax
Commissioner
Tax Officer
Appellate Tribunal
Supreme Court
Wholly Taxable
Wholly Exempt
Partly Exempt
None of the given options
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
Part IV
Part V
Part VI
Part VII
Zakat
Worker’s Welfare Fund
Work’s Participation Fund
All of the given options
Cash basis
Accrual basis
BY sadia ali
Both cash and accrual basis
Free to choose any kind of base
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Convenience
Judicious
Capacity to Pay
Business friendly
Taxes
Deficit Financing
Subsidies
Transfer Payments
Zakat
Worker’s Welfare Fund
Work’s Participation Fund
All of the given options
Simplicity
Convenience
Certainty
Capacity to Pay
Income Tax
Inheritance Tax
Value added Tax
Sales Tax
Commissioner
Tax Officer
Appellate Tribunal
Supreme Court
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Individual
Firm
Banking Company
Hindu Undivided Family
Burden
Endurance
Patience
Fortitude
Taxable Income
Residential Status
Tax Year
All of the given options
Commissioner
Tax Officer
Appellate Tribunal
Supreme Court
Chapters
Sections
Schedules
All of the given options
Wholly Taxable
Wholly Exempt
Partly Exempt
None of the given options
Relax
Lighten
Relieve
Fatigue
An Individual
The Federal Government
Public International Organization
None of the given option
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Question # 4 of 15 ( Start time: 06:46:58 PM ) Total Marks: 1
It is mandatory for each Company to maintain its books of accounts on which of the
following methods?
Select correct option:
Cash basis
Accrual basis
Both cash and accrual basis
Free to choose any kind of base
Relax
Lighten
Relieve
Fatigue
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
Direct taxes
Indirect Taxes
Value Added Taxes
Fees and Penalties
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
Proportional tax
Progressive tax
Regressive tax
Corporate tax
Question # 13 of 15 ( Start time: 06:50:56 PM ) Total Marks: 1
Which of the following is the legal status of Al-Habib Bank Limited under section 80 of
the ordinance?
Select correct option:
Individual
Firm
Banking Company
Hindu Undivided Family
2006
2007
2008
2009
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
BY sadia ali
Question # 7 of 15 ( Start time: 06:59:18 PM ) Total Marks: 1
Which one of the following canons of taxation suggests easiness in time of payment and
mode of collection of tax?
Select correct option:
Simplicity
Convenience
Certainty
Capacity to Pay
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
Income Tax
Inheritance Tax
Value added Tax
Sales Tax
Taxes
Deficit Financing
Subsidies
Transfer Payments
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Convenience
Judicious
Capacity to Pay
Business friendly
Gross Receipt
Total Income
Taxable Income
Gross Income
Relax
Lighten
Relieve
Fatigue
Convenience
Judicious
Capacity to Pay
Business friendly
Income tax
Inheritance tax
Property tax
Sales tax
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Burden
Endurance
Patience
Fortitude
Taxable Income
Residential Status
Tax Year
All of the given options
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
High Court
Supreme Court
Income Tax Department
Provincial Government
Part IV
Part V
Part VI
Part VII
Burden
Endurance
Patience
Fortitude
Chapters
Sections
Schedules
All of the given options
Cash basis
Accrual basis
Both cash and accrual basis
Free to choose any kind of base
Fee
Taxes
Charges
Penalties
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
Individual
Firm
Banking Company
Hindu Undivided Family
Imposing authority
Applied Rates
Entitlement of Counter benefit
Mode of payment
Commissioner
Tax Officer
Appellate Tribunal
Supreme Court
Exclusive definition
Inclusive definition
Both Inclusive & Exclusive definitions
Statutory definition
BY sadia ali