CHAPT-1 GEN. PRIN - 1 INCOME TAXATION 5th Edition (BY:...

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INCOME TAXATION 5 th SUGGESTED ANSWERS Chapter 1: General Principles and Concepts of Taxation CHAPTER 1 GENERAL PRINCIPLES AND CONCEPTS OF TAXATION Problem  1  – 1  TRUE OR FALSE 1. False  – Without  money  provided  by tax  power,  the  other  inherent  powers  cannot   function  well. 2. True 3. True 4. True 5. True 6. True 7. False  – Taxation  power  is subject  to inherent  and  Constitutional  limitations. 8. False  – Taxation  power  is not  absolute  because  it is subject  to limitations. 9. True 10. False  – penalty  is an  example  of imposition  of amount  for police  power. 11. True 12. False  – governmental  function  unless  stated  otherwise. 13. False  – government  agencies  engaged  in proprietory  functions  are  subject  tax  unless   stated  otherwise. 14. True Problem  1  – 2  TRUE OR FALSE 1. False  – Concurrence  of the  majority  of congress.
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CHAPT-1 GEN. PRIN - 1 INCOME TAXATION 5th Edition (BY:...

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