Tax Tong Hop Summary of A Vast Array of Questions That Students Can Use To Review Before

Tax-tổng-hợp - Summary of a vast array of questions that
students can use to review before

Thue Viet Nam (Trường Đại học Kinh tế Thành phố Hồ Chí Minh)
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Tax 1
(Bài này 9.5)
1. In term of Personal Income Tax (PIT) in Vietnam, the main difference between
resident and non-resident is
a. The taxable income of a resident is based on the income earned within or outside
Vietnam’s territory.
b. The taxable income of a non-resident is based on the income earned within or outside
c. The taxable income of a non-resident is based on the income earned outside Vietnam’s
territory (not include the income earned inside Vietnam’s territory).
d. The taxable income of a resident is based on the income earned within Vietnam’s
territory (not include the income earned outside Vietnam’s territory).
2. In case of enterprises paying value-added tax by the credit-invoice method, the

turnover of CIT is
a.Exclusive of VAT and exclusive of

CIT b.Exclusive of VAT and inclusive of
CIT c.Inclusive of VAT and exclusive of
CIT d.Inclusive of VAT and inclusive of
CIT
3. In term of domestic transaction in Vietnam, two methods of VAT calculation are
a.Deduction method and direct method

b.Deduction method and indirect method
c.Credit-invoice method and deduction method
d.Direct method and indirect method
4. In Vietnam, if a commodity is paid for by the VAT taxable price (Deduction method) is
a. The original price exclusive of VAT and interest.

b. The original price exclusive of VAT and inclusive of interest.
c. The price inclusive of VAT and interest.
d. The original price inclusive of VAT and exclusive of interest.
5. In Vietnam, how many types of income are PIT taxable incomes?
a.10
b.8

c.6
d.3
6. The key difference between VAT and CIT is
a. VAT is a direct tax and CIT is a indirect tax

b. VAT is a indirect tax and CIT is a direct tax
c. VAT is more equitable than CIT
d. CIT is more equitable than VAT
7. In Vietnam, VAT will be calculated when
a. The ownership or the right to use goods belongs to the seller.

b. The ownership or the right to use goods is transferred to the buyer, whether the
payment is made or not.
c. The ownership or the right to/ use goods is transferred to the buyer but the payment
must be made
d. All options are wrong
8. In comparison with other taxes, which kind of tax has an additional unique role?
a.VAT
b. PIT
c. CIT
d. Customs duty
9. Following current CIT law, compensation for late delivery (meeting three first
conditions of CIT deductible expenses) is
a. Only partially deducted

b. Decided by the tax officer
c.Non-deductible expense
d.Deductible expense
10. Following current CIT law, compensation for traffic violation (meeting three first
conditions of CIT deductible expenses) is
a.only partial deducted

b.only partial deducted
c.Deductible expense
d.Non-Deductible expense
11. Enterprise Pehan has the operating report in financial year of 2021 as follows

Total turnover: 7.000 million VND
Cost of goods sold: 3.000 million VND
Selling expenses: 1.100 million VND, including: a cost without legal document is 100
million VND
Administrative expenses: 1.500 million VND, including: non-banking transfer expense is
250 million VND, contact penalty is 250 million VND.
Other incomes: 500 million VND including dividends from earnings after tax of 250
million VND.
According to the financial report, the company still has not transferred the loss of 500
million VND of the year 2020.
In the tax period, the company paid 270 million VND of temporary corporate income tax
in 2021.
The tax rate of CIT is 20%. Please determine the (total) deductible expense of this company.
a.5.600 million VND

b.5.500 million VND
c.5.000 million VND
d.5.250 million VND
million VND
million VND.
According to the financial report, company still has not transferred the loss of 500 million
VND for the year 2020.
in 2021.
The tax rate of CIT is 20%. Please determine the taxable income of this company.
a.2.000 million VND

b.2.250 million VND
c.1.750 million VND
d.1.500 million VND

million VND
million VND.
in 2021.
The tax rate of CIT is 20%. Please determine the taxed income of this company.
a.1.750 million VND

b.1.500 million VND
c.2.250 millionVND
d.2.000 million VND
million VND
million VND.
in 2021.
The tax rate of CIT is 20%. Please determine corporate income tax of this company (after
deducting temporary corporate income tax).
a.30 million VND

b.200 million VND
c.20 million VND
d.300 million VND
million VND

million VND.
in 2021.
The tax rate of CIT is 20%. Please determine corporate income tax of this company
(Before deducting temporary corporate income tax).
a.30 million VND

b.300 million VND
c.200 million VND
d.20 million VND
16. Company A was established in December 2021, the first corporate income tax period
of this company is
a.2022 and this tax period has 12 months

b.2022 and this tax period has 13 months
c.2021 and this tax period has 1 month
d.2021 and this tax period has 13 months
17. Company B announced its dissolution in February 2022, the last corporate income tax
period of this company is
a.2021 and this tax period has 12 months

b.2022 and this tax period has 12 months
c.2021 and this tax period has 14 month
d.2022 and this tax period has 2 months
18. In December 2019, as an official employee of Company Nam Phong, Mr Hoang

(Vietnamese) earned a monthly salary of 30 million VND per month. In this month, he
also received a bonus 10 million VND from the company. However, under the current
law, he must pay compulsory insurance of 4 million VND per month. Mr Hoang must
raise two children under 18 years old and his mom who retired in 2019. However, his
mom has pensions (5 million VND per month) because she is a retired tax collector. His
dad is dead. His wife is a housewife. In this month, Mr. Hoang contributed charity to a
non-official personal charity fund: 500.000 VND. Please determine his taxable income.
a.31.2 million VND

b.30 million VND

c.40 million VND
d.20.2 million VND

also received a bonus of 10 million VND from the company. However, under the current
raise two children under 18 years old and his mom who has retired in 2019. However, his
non-official personal charity fund: 500.000 VND. Please determine his taxed (assessable)
income.
a. 40 million VND
b.15.7 million VND
c.26.7 million VND
d.22.3 million VND

also received a bonus of 10 million VND from the company. However, under the current
raise two children under 18 years old and his mom who has retired in 2019. However, his
non-official personal charity fund: 500.000 VND. Please determine his (total) deductions.
a.13.3 million VND

b.24.3 million VND
c.17.7 million VND
d.28.7 million VND

Tax 2
Bài này 9đ ( có thể sai câu 1)
1. Suppose a consulting firm must decide between 4 engagements.
Engagement 1 will generate $ 50,000 revenue in the current year and $100,000
revenue in the next year. The firm estimates that Engagement 1 will require $
40,000 of annual expenses.
revenue in the next year. The firm estimates that Engagement 2 will require
$30,000 of expenses in the current year and $50,000 of expenses in the next year.
revenue in the next year. The firm estimates that Engagement 3 will require $
40,000 of annual expenses.
revenue in the next year. The firm estimates that Engagement 4 will require
$30,000 of expenses in the current year and $50,000 of expenses in the next year.
With: revenues are taxable, the expenses are deductible, and the marginal income
tax rate is 20 %. The discount rate is 5%.
a. Engagement 3

b. b. Engagement 1
c. Engagement 4
d. Engagement 2
2. Can the government reach all four standards for a good tax simultaneously?
a. Government cannot reach all of four standards for a good tax simultaneously
because of lack of resources
b. Government can reach all of four standards for a good tax simultaneously if they
have high quality of tax administration
c. Government can reach all of four standards for a good tax simultaneously if they
have enough money
d. The government cannot reach all of four standards for a good tax simultaneously
because of the trade-offs among them
3. Among the four basic canons of a tax, which is the

most standard?
a. Efficiency
b. Depend on government’s attitude
c. Convenience
d. Fairness
4. At an annual 5 percent discount rate, the present value of $1 to be received at the

end of five years is:
a. $5.000
b. $0.784
c. $1.000
d. $4.329
5. At an annual 4 percent discount rate, the present value of $1 to be received at

the end of 4 years is
a. 4$
b. 3.63 $
c. 0.855 $
d. 1$

6. In term of Personal Income Tax (PIT) in Vietnam, The main difference between
resident and non-resident is:
a. The taxable income of a non-resident is based on the income earned outside
Vietnam’s territory (not including the income earned inside Vietnam’s territory).
b. The taxable income of a non-resident is based on the income earned within or
outside Vietnam’s territory.
c. The taxable income of a resident is based on the income earned within or outside
d. The taxable income of a resident is based on the income earned within Vietnam’s
territory (not including the income earned outside Vietnam’s territory).
7. How do the high-income taxpayers respond to a tax rate increase in a manner

consistent with the substitution effect?
a. They have to work harder to earn more income
b. They don't change their working hours
c. They don't have choices
d. They choose to work less hours and earn less income
8. At a 5 percent annual discount rate, the present value of $1 to be received at

the end of years 1 through 5 is:
a. $5.000.0
b. $1.000
c. $0.784
d. $4.329
9. In case of Similar Tax Treatments across Transactions: (in term of engagement

choice based on NPV)
a. Neither Tax costs nor Tax savings are neutral
b. Both Tax costs and Tax savings are neutral
c. Tax costs are not neutral but Tax savings are neutral
d. Tax costs are neutral but Tax savings are not neutral
10. In negotiating private market transactions:

a. Each party should evaluate the tax consequences not only to itself but also
to the other party
b. Related parties may be eager to accommodate each other in their negotiations.

c. The parties’ consideration of the mutual tax consequences is just one element of
their bargaining strategy
d. Any tax planning that does occur must be one-sided in private market transactions
MINI TEST 1
1. Which type of these public revenues is the most compulsory one?

a. Tax
b. Fine
c. Free
d. Grant
2. What does "Tax incidence" mean?

a. Tax loss
b. Tax gap
c. Tax base
d. Tax burden
3. Which kind of tax mentioned below is an activity-based tax?

a. Sale tax
b. All other answers are incorrect
c. Estate tax
d. Personal income tax
4. The term "tax" refers to some revenue sources such as fine and fee.
True
False
5. In this table, which kind of tax rate is used?
Income $10 $20 $30
Tax rate 10% 15% 18%
a. All other answers are correct

b. Regressive tax rate
c. Progressive tax rate
d. Proportional tax rate

6. What are the tax rates classified?
b. Marginal Tax Rate
c. Effective Tax Rate
d. Average Tax Rate
7. To what extent that a tax law may concern

a. The administration of the tax system
b. Who and whai is subject to tax?
c. All other answers are correct

d. The enforcement of the tax system
8. Which kind of tax in Vietnam is a transaction-based tax?

a. Excise tax (when import goods subject to this tax)
b. Personal income tax
d. Corporate income tax
9. Which element may contribute to the dynamic nature of taxes?

a. The political process
b. The culture element
c. The economic impacts
d. All other answers are incorrect
10. What does the term "tax jurisdiction" refer to?

b. The taxpayers
c. The tax advisers
d. The tax authority
11. Which statement is incorrect

a. A specific tax may be a transaction-based or an activity-based one.
c. Tax may be triggered when an event occurs or a transaction takes place.
d. Tax may be imposed on the cumulative result of an ongoing activity.
12. What is the difference between taxes and fees (or fines)?
a. They are imposed on the community at large
b. All other answers are correct.
c. Taxpayers who are obliged to pay taxes may not necessarily receive an direct benefits
in return.

d. They are not specifically connected with the receipt of any public particular services
13. Which one of the following statements is true?

a. Taxpayers may include individuals or legal entities(companies).
b. All other answers are correct
c. Tax base refers to the unique form of activity upon which the tax is imposed.
d. Tax base refers to the unique form of transaction upon which the tax is imposed.
14. Which characteristic is not the prominent one of tax

a. Voluntary
b. Indirect benefit
c. Public revenue
d.Compulsory
15. According to the U.S. tax system, which kinds of taxes are sources of Federal
revenues?
a. Sales tax & Use tax
b. Income taxes
c. Excise tax
d. All other answers are correct
MINI TEST 2.
1. When a company conduct its business, tax ability may arise in what tax jurisdiction?
b. Local jurisdicition
c. State jurisdiction
d. Federal jurisdiction
2. Which statement is correct about Excise tax?

b. Is not a broad based tax
c. The sellers are responsible for tax abilities
d. Tax rate can be extremely high
3. The distinctive feature of the U.S. real property tax is

b. The local government detemined market value of the property
c. Tax rate is determined every year
d. Tax rate is based on the jurisdiction's need for budget revenue

4. Which factor mentioned below may be the source of "Tax law"?
a. Juridical decisions
b. Administrative pronouncements
c. Statutory law
5. In this table, which kind of tax rate is used?
Income $10 $20 $30
Tax rate 15% 10% 05%
a. Progressive tax rate

b. Regressive tax rate
c. Proportional tax rate
d. All other incomes are correct
6. Which statement is correct about Use tax?

a. Imposed on the ownership, possession, or consumption of intangible goods within the
state.
b. Applied when the owner of the goods did not pay the state's sales tax when
the goods were purchased.
d. Applied when the seller of the goods did not pay the state's sales tax when the
goods were purchased.
7. According to the U.S. tax system, which kinds of taxes are sources of Federal
revenues?
c. Excise tax
d. Income taxes
8. Which kind of tax in Vietnam is a transaction-based tax?

b. Excise tax (when import goods subject to this tax)
c. Corporate income tax
d. Personal income tax
9. Which statement is correct regarding to tax period?

a. The same length of time for all kinds of tax
b. May be any length of time, depend on each type of tax
10. Which statement is correct about Federal taxes?

a. An important source of general revenues
b. Rely much on income tax
d. Applied to both individuals and corporations
11. According to the U.S. tax system, which kinds of taxes contribute the most to the
local government tax revenues?
a. Personal property tax and real property tax
b. Personal income tax and corporate income tax
d. Sales tax and excise tax
12. Which term is relevant to this formular: Total tax liability/ Taxable income
a. ETR
b. ATR
c. All other answers are incorrect
d. MTR
13. Which statement is correct in related to progressive tax rate?

a. A decreasing marginal tax rate when the base increases
c. Is a constant tax rate
d. A increasing marginal tax rate when the base decreases
14. Which kind of tax is based on annual compensation paid to employees?

a. All other answers are incorrect
b. Personal income tax
c. Unemployment tax
d. Employment tax
15. Which statement is correct about Employment taxes?

a. Based on the net income earned by self-employed individuals
c. Earmarked to pay for the Social Security and Medicare
d. Based on wages and salaries paid by employers to their employees

16. Which element may contribute to the dynamic nature of taxes?
a. The economic impacts
b. The culture element
c. The political process
17. According to the U.S. tax system, which kinds of taxes are sources of state revenues?
b. PIT & CIT
d. Excise tax
18. Which statement is correct about Earmarked tax?

a. Used to finance designated projects
b. Used to generate the general revenues.
c. All other statement are correct.
d. The most popular tax
19. What are the tax rates classified?

a. Marginal Tax Rate
b. Effective Tax Rate
c. Average Tax Rate
20. Which statement is true about Sales tax?

b. Just applied to certain consumer goods
c. Have a narrow tax base
d. The seller is the taxpayer
MINI TEST 3
Câu Hỏi 1. Which statement is correct about substitution effect?

b. More potent for self-employed taxpayers
c. More potent for taxpayers who are salaried employees
d. More potent for CIT
2. Which kind of tax is based on annual compensation paid to employees?

a. Unemployment tax
c. Personal income tax

d. Employment tax
3. Which statement is correct about Excise tax?

a. The sellers are responsible for tax abilities
b. Is not a broad based tax
d. Tax rate can be extremely high
4. Which statement is correct about Use tax?

a. Applied when the owner of the goods did not pay the state's sales tax when
the goods were purchased.
c. Imposed on the ownership, possession, or consumption of intangible goods within the
state.
d. Applied when the seller of the goods did not pay the state's sales tax when the
goods were purchased.
5. In this formular, What does "r" proxy for?

a. Interest rate
b. Inflation rate
d. Tax rate
6. According to the U.S. tax system, which kinds of taxes contribute the most to the local
government tax revenues?
a. Sales tax and excise tax
c. Personal income tax and corporate income tax
d. Personal property tax and real property tax
7. Which statement is correct about Federal taxes?

a. Applied to both individuals and corporations
c. Rely much on income tax
d. Aimportant source of general revenues
8. Which statement is true about dynamic forecast?
a. Tax revenues are results of changes in tax rate and tax base correlatedly
c. Tax revenues will increase when the tax rate is higher
d. Tax revenues are results of changes in tax rate or tax base

Câu Hỏi 9. Regarding to standard for a good tax, what does Sufficient mean?
a. Taxpayers have enough money to pay tax
b. Tax revenues can be enough for the necessary governmnet revenues
d. Tax policy offers fairness for the taxpayers
Câu Hỏi 10. Which Criteria is relevant to this statement: "Tax revenue generates enough
funds for the public goods and services provided by the government"
a. Efficient
b. Fair
c. Convenience
d. Sufficient
Câu Hỏi 11. Which statement is correct?

b. The substitution effect is most powerful for all taxpayers
c. The income effect is most powerful for higher-income taxpayers
d. The substitution effect is most powerful for higher-income taxpayers
Câu Hỏi 12. The distinctive feature of the U.S. real property tax is
a. Tax rate is based on the jurisdiction's need for budget revenue
c. Tax rate is determined every year
d. The local government detemined market value of the property

a. The income effect is most powerful for lower-income taxpayers
b. The income effect is most powerful for all taxpayers
c. The income effect is most powerful for higher-income taxpayers
Câu Hỏi 14. According to dynamic forecast, when tax rate increase, tax revenues may be:
a. never change
c. changed
d. ineffected
Câu Hỏi 15. Which statement is correct about Substitution effect

a. When government increases tax rate, all taxpayers tend to rest more

c. When government increases tax rate, all taxpayers tend to work more
d. When government increases tax rate, certain taxpayers tend to rest more
Câu Hỏi 16. What are the tax rates classified?

a. Marginal Tax Rate
b. Average Tax Rate
d. Effective Tax Rate
Câu Hỏi 17. Which statement is correct about income effect

b. Increase in income tax rate may make people poorer
c. Increase in income tax rate may force people to work harder
d. Increase in income tax rate will force people engage in less income-producing
activities
Câu Hỏi 18. Which statement is correct about Employment taxes?

a. Based on the net income earned by self-employed individuals
b. Earmarked to pay for the Social Security and Medicare
c. Based on wages and salaries paid by employers to their employees
Câu Hỏi 19. Which factor mentioned below may be the source of "Tax law"?
a. Administrative pronouncements
b. Statutory law
d. Juridical decisions
Câu Hỏi 20. According to the U.S. tax system, which kinds of taxes are sources of
Federal revenues?
b. Income taxes
c. Excise tax
d. Sales tax & Use tax
Câu Hỏi 21. According to this formula, how can you forecast the revenues?
a. Tax rate and tax revenue are correlated
c. Tax rate may have impact on tax base
d. Tax rate has no impact on tax base
Câu Hỏi 22. Generally, how many standards for a good tax?
a. 3

b. 5
c. 6
d. 4x
Câu Hỏi 23. Which statement is correct regarding to tax period?
a. May be any length of time, depend on each type of tax

b. The same length of time for all kinds of tax
Câu Hỏi 24. Which statement is true about static forecast?

a. When tax rate increases, tax revenues remain unchanged.
b. Tax revenues will increase when the tax rate is higher
c. Higher tax rate will not always lead to greater tax revenue
Câu Hỏi 25. Which statement is correct about dynamic forecasts?

a. Changes in tax rate may be the only one reason of tax renvenue changes
c. Changes in tax rate may incorporate with changes in tax base then result in tax
revenues
d. Changes in tax rate may be the only one reason of tax base
MINI TEST 4
Câu Hỏi 1. What does character of income refer to?

b. The situation whether the income is taxed at the regular rate or at a special rate.
c. whether the income is taxed at the regular rate or at a special rate.
d. The situation whether the taxpayers is taxed at the regular rate or at a special rate.

a. A tax dollar paid this year may cost more than a tax dollar paid in a future year
b. A tax dollar saved this year may worth more than a tax dollar saved in the future
c. Tax costs and tax savings from transactions would vary with the time period because of
the time value of money
Câu Hỏi 3. Which statement is correct about the first maxim?

a. Tax on business income can be reduced if that income is shifted form an entity
with a high tax rate to an entity with a low tax rate

b. Tax on business income can be increased if that income is shifted form an entity with a
high tax rate to an entity with a low tax rate
d. Tax on business income can be reduced if that income is shifted form an entity with a
low tax rate to an entity with a high tax rate
Phản hồi
Câu Hỏi 4. Which income is classified as ordinary income?

b. Dividends
c. Income derived from routine sales of goods or services
d. Interest

a. Managers can reduce tax costs if they know how to control the timing of
transactions legally
b. Managers can reduce tax savings if they know how to control the timing
of transactions legally
d. Managers can increase tax costs if they know how to control the timing of transactions
legally

b. An income shift or a deduction shift can improve NPV
c. Deferral income may be at risk in the future
d. Each jurisdiction may have their own tax policy

b. The entity variable mentions which entity undertakes the transaction
c. The time period variable mentions the tax year that the transaction occurs.
d. The character variable mentions the tax character of income from the transaction
Câu Hỏi 8. Which statement is correct about the tax planning strategy?
a. Tax cost is the most important factor that determine the winning strategy
b. The costs must be weighted against the potential tax savings form the strategy.
c. The strategic goal is tax minimization
Câu Hỏi 9. Which income is classified as capital gain?

a. Income derived from routine sales of goods or services
b. Sale of capital assets
c. Interest
Câu Hỏi 10. Which statement is correct about the 2nd tax planning maxim?
a. In present value terms, tax costs increase (and cash flows decrease) when a tax is
deferred until a later taxable year.
b. In present value terms, tax costs decrease (and cash flows increase) when a tax is paid
in the next taxable year.
d. In present value terms, tax costs decrease (and cash flows increase) when a tax
is deferred until a later taxable year.

a. Tax consequences of business transactions depend on which entity undertakes the
transaction
b. Each entity may be taxed at different marginal tax rate
c. Business entities may be subjected to different tax types
Câu Hỏi 12. Which statement is correct about income-shifting transactions?

a. May be constrainted by tax authorities' legislation
b. Related parties will be financially better
c. Usually occur between related parties

b. Any item of income may have distinguish tax characteristic
c. All items of income have the same tax characteristics
d. Only ordinary income is subject to income tax
Câu Hỏi 14. Which statement is correct about the first maxim?
a. Deduction is usually shifted from the entity with the high tax rate to the entity with the
low tax rate
b. Income is usually shifted from the entity with the low tax rate to the entity with the
high tax rate
c. Entities with different marginal tax rates can save tax not only by shifting income
but also by shifting deductible expenses.

Câu Hỏi 15. Tax avoidance and tax evasion are legal activities
Select one:
True
False

b. The time period variable mentions the due date that the taxpayers have to summit the
tax return
c. The jurisdiction variable mentions the tax jurisdiction in which
transactions occur
d. The entity variable mentions the tax character of the income derived from the
transaction
Câu Hỏi 17. What does the third income tax planning maxim mention?
a. Cash flows decrease when income is generated in a jurisdiction with a low tax rate.
b. Tax costs increase when income is generated in a jurisdiction with a low tax rate.
d. Tax costs decrease when income is generated in a jurisdiction with a low tax rate.
Câu Hỏi 18. When computing the NPV, we incorporate:

a. Tax costs as cash outflows
b. Both tax costs and tax savings
d. Tax savings as cash inflows

b. Tax benefits may not be the same for all years
c. Managers can reduce tax costs if they know how to control the timing of
transactions legally
d. Technical details of income tax systems may change periodically
Câu Hỏi 20. Tax planning is the structuring of transactions to minimize tax costs
ultimately.
Select one:
True
False Đúng
Phản hồi
The correct answer is 'False'.
Câu Hỏi 21. Tax avoidance is definitely different from tax evasion

Select one:
True
False
Phản hồi
The qualitative difference between avoidance and evasion is in the eye of the beholder.
Câu Hỏi 22. There are four basic principles being foundation for income tax planning
techniques.
Select one:
True Đúng
False
Câu Hỏi 23. Which statement is correct about the fourth tax planning maxim?
a. Cash flows decrease when income is taxed at a preferential rate because of its
character.
b. Tax costs decrease when income is taxed at a preferential rate because of its
character.
c. Tax costs increase when income is taxed at a preferential rate because of its character.
Câu Hỏi 24. There are four variables affecting the tax consequences of a transaction
Select one:
True Đúng
False
Câu Hỏi 25. Which statement is correct about Income Deferral?

a. Tax rate may be changed to be higher one.
c. The firm may be moved to unexpectedly into a higher tax bracket.
d. The value of the deferral could be increased
MID-TERM
Câu Hỏi 4. Some transactions result in the receipt of cash; some transactions require the
firm to disburse cash while some transactions iinvolveboth inflows and outflows
Select one:
True
False

2. Which following statement is right?
a. Four standards of a good tax can not be obtained simultaneously due to the trade-
offs between income derived from wages ( income effect and substitution effect)
b. Four standards of a good tax can be obtained simultaneously thanks to the high quality
tax administration
c. Four standards of a good tax can not be obtained simultaneously due to the trade-offs
between income derived from real estate transfer
d. Four standards of a good tax can be obtained simultaneously if the government have
enough money
11. Assume that Company X has to choose one engagement between 4 following ones:
Further information: all of expenses is deductible. The marginal tax rate is 20%. The
discount rate is 5%.
Which engagement will be the most valuable one for Company X?
a. Engagement 2
b. Engagement 1
c. Engagement 3
d. Engagement 4
12. Which statement is correct about private negotiation?

a. Any tax planning decision must be one-sided decision
b. Tax planning decision may be the same as related transactions
c. All of other statements is correct
d. Tax consequences of private market transactions should be the results
of consideration tax benefits for parties which engage to the transactions
13. How can a jurisdiction increase tax revenues?
a. Exploit new tax base
b. Enlarge the current tax base
d. Increase the current tax rate
14. Tax minimization may not be the optimal business strategy

Select one:
True
False
15. Some transactions result in the receipt of cash; some transactions require the firm to
disburse cash while some transactions invove both inflows and outflows
Select one:
True
False

16. Which statement is correct about progressive tax rate?
a. An increasing marginal tax rate when the tax base increases
c. An decreasing marginal tax rate when the tax base increases
d. An unchanged marginal tax rate when the tax base increases
17. Regarding to basic canons of a good tax, which standard is the most important one?
a. Convenience
b. Sufficient
c. Depend on the goverment's attitude at a specific time
d. Efficiency
18. Generally, there are four necessary standards for a good tax.
Select one:
True
False
14. Which statement is correct?

a. Costs are essential components affecting short-term and long-term profitable of
company
b. Managers want to maximize the negative cash flow
c. Managers want to minimize the positive cash flow
1. Which statement is correct about Convenient standard?

a.
All other answers are correct
b.
It is easy for taxpayers to understand and routinely cooperate

c.
It is necessary to be convenient for government to administer the tax system
d.
It is necessary to be convenient for the taxpayer to pay tax duties
Which term is relevant to this formular:
Total tax liability/ Taxable income
a.
All other answers are incorrect
b.
ETR
c.
MTR
d.
ATR
Which statement is incorrect?

a.
A specific tax may be a transaction-based or an activity-based one.
b.
Tax may be triggered when an event occurs or a transaction takes place.
c.
Tax may be imposed on the cumulative result of an ongoing activity.
d.
Which answer below is relevant to the Efficiency standard?
a.
Equity
b.
Fairness
c.
Neutrality
d.
Which statement is correct about substitution effect?

a.
More potent for self-employed taxpayers
b.
More potent for the taxpayers who are salaried employees
c.
d.
More potent for CIT
Tax minimization may not be the optimal business strategy
Select one:
True
False
Which statement is correct about Substitution effect
a.
When government increases tax rate, certain taxpayers tend to rest more
b.
c.
When government increases tax rate, all taxpayers tend to work more
d.
When government increases tax rate, all taxpayers tend to rest more
What does the third income tax planning maxim mention?
a.
Tax costs increase when income is generated in a jurisdiction with a low tax rate.
b.
Tax costs decrease when income is generated in a jurisdiction with a low tax rate.
c.
Cash flows decrease when income is generated in a jurisdiction with a low tax rate.
d.
There are four variables affecting the tax consequences of a transaction

Select one:
True
False
Which statement is correct about Income Deferral?
a.
The firm may be moved to unexpectedly into a higher tax bracket.
b.
c.
The value of the deferral could be increased
d.
Tax rate may be changed to be higher one.
Which statement is correct?
a.
The entity variable mentions the tax character of the income derived from the transaction
b.
c.
The time period variable mentions the due date that the taxpayers have to summit the tax
return
d.
The jurisdiction variable mentions the tax jurisdiction in which transactions occur
Generally, how many standards for a good tax?
a.
6
b.
3
c.
5
d.
4
Which statement is correct about private negotiation?
a.
Any tax planning decision must be one-sided decision

b.
Tax planning decision may be the same as related transactions
c.
All of other statements is correct
d.
Tax consequences of private market transactions should be the results of consideration
tax benefits for parties which engage to the transactions
When tax is sufficient, there may be no need for the government to raise additional funds
Select one:
True
False
What does the NPV stand for?
a.
b.
Non-Profit Value
c.
Net Profit Value
d.
Net Present Value
Some transactions result in the receipt of cash; some transactions require the firm to
disburse cash while some transactions invove both inflows and outflows
Select one:
True
False
Which statement is correct about income-shifting transactions?
a.
Related parties will be financially better
b.
May be constrainted by tax authorities' legislation
c.
Usually occur between related parties
d.

All other answers are correct
Which statement is correct?
a.
Managers want to minimize the positive cash flow
b.
Costs are essential components affecting short-term and long-term profitable of company
c.
d.
Managers want to maximize the negative cash flow
In related to the criteria Sufficient, tax play the role as a revenue raiser
Select one:
True
False
Which Criteria is relevant to this statement: "Tax revenue generates enough funds for the
public goods and services provided by the government"
a.
Fair
b.
Convenience
c.
Efficient
d.
Sufficient

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2. In case of enterprises paying value-added tax by the credit-invoice method, the

a.Exclusive of VAT and exclusive of

3. In term of domestic transaction in Vietnam, two methods of VAT calculation are

a.Deduction method and direct method

a. The original price exclusive of VAT and interest.

5. In Vietnam, how many types of income are PIT taxable incomes?

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6. The key difference between VAT and CIT is

a. VAT is a direct tax and CIT is a indirect tax

7. In Vietnam, VAT will be calculated when

a. The ownership or the right to use goods belongs to the seller.

a. Only partially deducted

a.only partial deducted

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a.5.600 million VND

a.2.000 million VND

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a.1.750 million VND

a.30 million VND

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a.30 million VND

a.2022 and this tax period has 12 months

a.2021 and this tax period has 12 months

18. In December 2019, as an official employee of Company Nam Phong, Mr Hoang

a.31.2 million VND

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19. In December 2019, as an official employee of Company Nam Phong, Mr Hoang

20. In December 2019, as an official employee of Company Nam Phong, Mr Hoang

a.13.3 million VND

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3. Among the four basic canons of a tax, which is the

4. At an annual 5 percent discount rate, the present value of $1 to be received at the

5. At an annual 4 percent discount rate, the present value of $1 to be received at

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7. How do the high-income taxpayers respond to a tax rate increase in a manner

8. At a 5 percent annual discount rate, the present value of $1 to be received at

9. In case of Similar Tax Treatments across Transactions: (in term of engagement

10. In negotiating private market transactions:

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1. Which type of these public revenues is the most compulsory one?

2. What does "Tax incidence" mean?

3. Which kind of tax mentioned below is an activity-based tax?

5. In this table, which kind of tax rate is used?

Income $10 $20 $30

Tax rate 10% 15% 18%

a. All other answers are correct

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7. To what extent that a tax law may concern

c. All other answers are correct

8. Which kind of tax in Vietnam is a transaction-based tax?

9. Which element may contribute to the dynamic nature of taxes?

10. What does the term "tax jurisdiction" refer to?

11. Which statement is incorrect

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13. Which one of the following statements is true?

14. Which characteristic is not the prominent one of tax

2. Which statement is correct about Excise tax?

3. The distinctive feature of the U.S. real property tax is