Q.
Entertainment given to potential client in a closed transaction
Deductions
Quiz
•
Specialty
•
University
•
Medium
Logeswary Maheswaran
Used 2+ times
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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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