Taxation Multiple Choice Questions with Answers – PDF Download

MCQ 1: If an article costs $350 with 6% GST then the price customer has to pay is:

1. $362
2. $351
3. $371
4. $341

MCQ 2: If a refrigerator is advertised for $215 inclusive of 7% GST then the original price is:

1. $325.95
2. $225.95
3. $210.95
4. $199.95

MCQ 3: The income tax imposed on first $30000 is $600 and on the next $10000 income is 6%. If the chargeable income is $39200 then income tax payable is:

1. $1,452
2. $1,152
3. $1,252
4. $1,352

MCQ 4: The income tax imposed on first $90000 of income is $4000 and next $20000 is 7%. If chargeable income is $100,000 then the tax payable by the tax payers is:

1. $5,400
2. $6,500
3. $7,000
4. $7,200

MCQ 5: If the tax payable is $8000 for 8 months at rate of 16% then annual value of real estate property is:

1. $85,000
2. $75,000
3. $78,000
4. $89,000