Taxation and Income Quiz
Authored by ERIKA SUNGA
Business
12th Grade
Used 1+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
66 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What is the primary source of income for an employee?
Business profits
Rental income
Compensation for services
Investment income
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following is NOT a component of gross compensation income?
Hazard pay
Profit-sharing
Rent income
Retirement pay
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A payment given to a person as recognition for services performed, without a fixed fee, is known as:
Commission
Honorarium
Salary
Wage
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Allowances that are directly related to the employee's job duties and are subject to accountability are generally:
Taxable
Non-taxable
Partially taxable
Depends on the employer's policy
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Retirement pay is generally taxable unless:
It's received from a government-approved pension plan
The employee is under 50 years old
The employee has served for less than 10 years
The employee voluntarily retired
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Separation pay is generally taxable if:
It's due to involuntary separation
It's received by the employee's heirs
It's voluntarily availed
It's due to a company merger
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The 13th-month pay is generally:
Fully taxable
Fully non-taxable
Partially taxable up to a certain amount
Taxable only if received in cash
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
Already have an account?
