21. Which is FALSE in withholding tax system? S1 It is one method by which the government collects money from taxpayers S2 - It is a source of third-party information S3 - The withholding tax collected may be used by the company for working capital provided the money is remitted on time
21. Which is FALSE in withholding tax system?
S1 It is one method by which the government collects money from taxpayers
S2 - It is a source of third-party information
S3 - The withholding tax collected may be used by the company for
is remitted on time
54 - A withholding agent is the agent of the government
A. S1
B. S2
C. S3
D. S4
23. Nicanor sold his residential lot located in Iloilo City. The Deed of Absolute Sale is dated January 31, 2021. When is the respective deadline of the payment of the
A. March 1, 2021, February 5, 2021
B. February 28, 2021, February 5, 2021
C. March 1, 2021 and March 5, 2021
D. February 5, 2021 and March 5, 2021
24. It is a certification issued by the Commissioner or his duly authorized representative attesting that the transfer has been reported and the taxes have been fully paid.
A. Electronic Certificate of Authority to Register B. Electronic Certificate of Authority for Registration
C. Electronic Certificate Authorizing Registration
D. Electronic Certificate of Registrations
25. Which is TRUE in
S1 - Managerial employees are those who, in the interest of the employer, effectively recommend such managerial actions or the exercise of such authority is not merely routinary or clerical in nature but requires the use of independent judgment
S2 - Supervisory employees are ones who are vested with powers or prerogatives to lay down and execute management policies and/or hire, suspend, lay-off, recall, discharge, assign or discipline employees 53 - Rank-and-File employees are employees who are holding neither managerial nor supervisory position
A. S1
B. S2
C. S3
D. All of the above
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