Q.1
Below are the deductions allowed to a tax payer EXCEPT:
  • Personal relief
  • Children relief
  • Zakat
  • EPF and LIP
Q.2
Income that has not been worked for such as interest, dividends, or gambling winnings
  • disposable income
  • unearned income
  • earned income
  • workers compensation
Q.3
Kim chargeable income is RM36,Calculate his tax amount.
  • RM132
  • RM900
  • RM1,200
  • RM1,332
Q.4
Social security is the tax that pays for medical insurance for older adults.
  • True
  • False
Q.5
Tax deductions are calculated as a percentage of net pay.
  • True
  • False
Q.6
A non resident Indian is not liable to pay tax on his income received in India.
  • True
  • False
Q.7
Maximum deduction for EPF and LIP contributions is limited to __________.
  • RM4,000
  • RM 5,000
  • RM6,000
  • RM7,000
Q.8
IT ACT came in to the force since first April
  • True
  • False
Q.9
LPG subsidy received by an Individual in included in his income
  • True
  • False
Q.10
There is no relation of the residential status of individual to his citizenship.
  • True
  • False
Q.11
How do you calculate rate of tax?
  • Gross Income - Net Tax
  • Gross Tax - Tax Credits
  • (Gross Income) x (Rate of Tax)
  • Gross Tax ÷ Gross Income
Q.12
Parliament has the power to levy tax on incomes other than
  • (a) Exempt Incomes
  • (b) Income of poor people
  • (c) Agricultural Income
  • (d) All incomes are taxable
Q.13
Vickie makes $40,annually. If she paysin income tax, what is the amount of income tax she will pay?
  • 8000
  • 80000
  • 2000
  • 1200
Q.14
Peter is a college professor. His annual salary is $112, If he has to payincome tax what is the amount of tax he will pay?
  • 30000
  • 28000
  • 25000
  • 22000
Q.15
Noah is a lawyer. Last year he made $92, If he has to payin income tax what is the amount of income tax he has to pay?
  • 2024
  • 22000
  • 20240
  • 2000
Q.16
Single, Married Filing Joint, and Head of the Household are all examples of___ on a tax return.
  • filing status
  • standard deductions
  • itemized deductions
  • dependents
Q.17
Which form is used to report an employees earnings and taxes paid in a year?
  • W-2
  • W-4
  • I-9
  • 1040
Q.18
What government department collects personal income tax?
  • Federal Government
  • IRS
  • Social Security Division
  • Congress
Q.19
What are the four most common taxes that come out of a person’s payroll check?
  • Federal Income Tax
  • State Income Tax
  • Medicare Tax
  • All Of above
Q.20
Federal law requires employers to pay a minimum wage.
  • True
  • False
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