Deductions

Deductions

University

10 Qs

quiz-placeholder

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Deductions

Deductions

Assessment

Quiz

Specialty

University

Practice Problem

Medium

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Logeswary Maheswaran

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Q. 

Entertainment given to potential client in a closed transaction

Allowed a deduction of 100%

Not allowed a deduction of 100%

Allowed a deduction of 50%

Not allowed a deduction of 50%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Entertainment given to potential or existing customer when launching company's new product

Allowed a deduction of 100%

Not allowed a deduction of 100%

Allowed a deduction of 50%

Not allowed a deduction of 50%

Answer explanation

Proviso (vii) to Para 39(1)(l)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wedding gift to customer

Allowed a deduction of 100%

Allowed a deduction of 50%

Not allowed a deduction of 100%

Not allowed a deduction of 50%

Answer explanation

Not wholly & exclusively incurred under S33(1)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Entertainment to employees of related companies

Allowed a deduction of 50%

Allowed a deduction of 100%

Not allowed a deduction of 50%

Not allowed a deduction of 100%

Answer explanation

Not wholly & exclusively incurred under S33(1)

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Expenses for Annual General Meeting of company

Allowed a deduction of 50%

Not Allowed a deduction of 50%

Not allowed a deduction of 100%

Allowed a deduction of 100%

Answer explanation

Not wholly & exclusively incurred under S33(1)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cash contribution for customer's annual dinner

Allowed a deduction of 100%

Allowed a deduction of 50%

Not Allowed a deduction of 50%

Not allowed a deduction of 100%

Answer explanation

Not wholly & exclusively incurred under S33(1)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Annual dinner honoring star employee & other employee

Allowed a deduction of 100%

Not allowed a deduction of 100%

Not allowed a deduction of 50%

Allowed a deduction of 50%

Answer explanation

Proviso (i) to Para 39(1)(l)

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