Pre-test: VAT Training
Quiz by clarenz
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- Q1
A tax on domestic consumption from foreign suppliers
VAT on Importation
Business Tax
Either A or B
Neither A or B
30s - Q2
Which form of consumption is a non-vatable?
Sales to a resident
Sales to a non-resident
Importation by an importer engaged in business
Importation by an importer not engaged in business
30s - Q3
Maki made a casual sale involving a car to Bini Maloi, a resident buyer. Maki is a resident citizen and not a car dealer. Who is subject to consumption tax?
Maki
Bini Maloi
Both Maki and Bini Maloi
Neither Maki or Bini Maloi
30s - Q4
Effective April 27,2024, A VAT-registered person must issue a/an _______ as the primary document for sales of services to its customers.
Official Receipt
Collection Receipt
Service/Sales Invoice
Statement of Account/Billing Statement
30s - Q5
The converted remaining unused Official Receipts to Invoice can be issued as primary invoice to its buyer/purchaser on or before December 31,2024 only.
falsetrueTrue or False30s - Q6
Value-added tax is a/an?
Direct tax
Indirect Tax
Property tax
Excise tax
30s - Q7
RTOSI, a VAT-registered accounting firm, provided the ff. data for the last quarter of 2023. And 75% of the company purchases are vatable. How much is the VAT payable for 4th qtr?
Php87,600
Php730,000
Php226,200
Php333,600
60s - Q8
An export sales by a non-VAT registered entity shall be classified as zero-rated transaction.
falsetrueTrue or False30s - Q9
A gross sale of goods amounting to P100,000 has P12,000 VAT.
truefalseTrue or False30s - Q10
A VAT-registered taxpayer recorded the following sales and purchases, exclusive of VAT. Compute for the Output and Input VAT?
Php36,000, Php24,000
Php 0, Php 0
Php48,000, Php 24,000
Php36,000, Php12,000
60s - Q11
Maki, a business taxpayer who is doing business in the Philippines recorded the following transactions. Compute the VAT on Importation?
Php30,000
Php12,000
Php18,000
Php 0
60s - Q12
ABC Company made the following sales during the quarter:
Determine the amount subject to Business Tax if ABC Company is a VAT-Registered?
Php25,200
Php37,200
Php210,000
Php310,000
60s - Q13
Carly's MIGAH Sardines made the following sales:
Compute the amount of taxable sales.
Php980,000
Php850,000
Php1,020,000
Php0
60s - Q14
Madam Leane is subject to 3% percentage tax. He made a total collection of P 206,000 during a month and paid P 103,000 in purchases.
Compute her percentage tax.
Php 6,810
Php 3,090
Php 3,000
Php 6,180
60s - Q15
Madam Eds imported a luxurious sports car worth P 1,500,000 for personal use and a special equipment worth P 1,000,000 for business use. Compute the VAT on Importation.
Php 0
Php 120,000
Php 300,000
Php 180,000
30s
