11.

One of the following is part of taxable income subject to schedular (graduated/progressive) rates:
c. Living quarters and meals furnished and given to a rank and file employee for the convenience of the
employee
12. Which is not a creditable withholding income tax?
c. Withholding income tax on passive income

13. As a rule, this is not part of taxable income

d. 13th month pay

14. This is taxable income

c. Separation pay due to resignation

15. Which of the following is taxable income?

c. Interest on Philippine lotto winnings

16. Which of the following statements regarding dividends is correct?

c. Taxable subject to year-end tax if received by a resident citizen from a non-resident foreign corporation

17. The following items are exclusions from gross income, except
c. IOUs

18. Which of the following is part of gross income in the ITR?

d. Raffle prize not exceeding P10,000

19. If refunded, this is taxable

d. Fringe Benefit tax