This quiz works best with JavaScript enabled. Home > Accounting > Taxation > Taxation – Quiz 22 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Taxation Quiz 22 (11 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. This tax hits the low income the hardest because all of their expenditures go towards everyday goods. A) State tax. B) Government tax. C) Federal tax. D) Sales tax. Show Answer Correct Answer: D) Sales tax. 2. Last year I paid too much tax, so this year I received a tax ..... A) Return. B) Receipt. C) Rebate. D) Allowance. Show Answer Correct Answer: C) Rebate. 3. Who will announce the rate of taxation to be imposed underneath the CGST Act? A) The Federal Government. B) State Administration. C) GST Commission. D) Central And state, following the GST Council's proposals. Show Answer Correct Answer: D) Central And state, following the GST Council's proposals. 4. This determines the total tax paid on the assessed value of a piece of property. A) Property tax. B) Mill levy. C) Tax levy. D) Income tax. Show Answer Correct Answer: B) Mill levy. 5. The tax rate whose percentage becomes greater if the amount that is the basis for its imposition becomes greater A) Proportional tax rates. B) Degressive tax rates. C) Progressive tax rates. D) Fixed tax rate. Show Answer Correct Answer: C) Progressive tax rates. 6. A worker earns $ 60 000 a year and pays 25% income tax. He spent $ 2000 on furniture and$ 5000 on a computer and paid 20% sales tax on each.How much indirect tax did he pay? A) $ 1000. B) $ 1400. C) $ 15 000. D) $ 16 400. Show Answer Correct Answer: B) $ 1400. 7. Fill the sentence with a correct word:The employee needs to provide ..... to the employer for the taxation. A) A passport. B) A tax card. C) Value added tax. D) A gift. Show Answer Correct Answer: B) A tax card. 8. . Rate at which additional depreciation is charged is A) 30. B) 20. C) 15. D) 5. Show Answer Correct Answer: B) 20. 9. A tax credit is subtracted from the total tax bill. A) True. B) False. Show Answer Correct Answer: A) True. 10. Which of the below are GST's advantages?Establishment of a single national marketStrengthening the 'Make in India' programLessening the burden of conformity on taxpayersIncrease in government revenueDual taxation, as well as double taxation, are eliminated.Select the appropriate answer from the choices below. A) 1, 3, 4, and 5 are the first, third, fourth, and fifth numbers. B) 2, 3, 4 & 5. C) 1, 2, 4 and 5. D) 1, 2, 3, 4 and 5. Show Answer Correct Answer: C) 1, 2, 4 and 5. 11. It is a tax withheld by employers from each employee's salary and is paid to the government. A) Payroll tax. B) Consumption tax. C) Inheritance tax. D) Value added tax. E) Income tax. Show Answer Correct Answer: A) Payroll tax. ← PreviousRelated QuizzesAccounting QuizzesTaxation Quiz 1Taxation Quiz 2Taxation Quiz 3Taxation Quiz 4Taxation Quiz 5Taxation Quiz 6Taxation Quiz 7Taxation Quiz 8Taxation Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books