INCOME TAX
CHAPTER 8 – Regular Income Tax: Exclusion from
Gross Income
True or False Part 1.
1. F
2. T
3. T
4. F
5. F
6. F
7. T
8. T
9. T
10. T
11. T
12. T
13. F
14. F
15. F
True or False Part 2.
1. F
2. F
3. T
4. F
5. T
6. T
7. F
8. T
9. F
10. T
11. F
12. T
13. F
14. T
15. T
Multiple Choice – Theory 1
1. D
2. C
3. B
4. C
5. D
6. B
7. B
8. A
9. B
10. C
11. A
12. D
13. C
14. A
15. C
CHAPTER 10 – Compensation Income
Exercise Drill No. 1
Rank & File
Employee
1
DM
2
SC
3
DM
4
DM
5
OB
6
RC
7
DM
8
OB
9
OB
10
DM
11
DM
12
EB
13
OB
14
RC
15
SC
16
OB
17
SC
18
SC
19
EB
20
RC
21
OB
DM & OB FOR
22
EXCESS
23
EB
24
EB
25
SC
Manager or
Supervisor
DM
SC
DM
DM
OB
RC
DM
OB
OB
DM
DM
EB
FB
RC
SC
FB
SC
SC
EB
RC
FB
DM & FB FOR EXCESS
EB
EB
SC