Dtc Test Run 1

65 Questions | Total Attempts: 173

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Income Quizzes & Trivia

Time allowed : 1 hour and 30 minutes This quiz have 40 multiple choice questions which are compulsory and MUST be attempted


Questions and Answers
  • 1. 
    Which of the following term is defined in the Income Tax Act, 1967?
    • A. 

      Plant

    • B. 

      Machinery

    • C. 

      Building

    • D. 

      All of the above

  • 2. 
    Which income is said to be derived from Malaysia?
    • A. 

      Royalty income received by a Malaysian tax resident that relates to the usage of intellectual property outside Malaysia

    • B. 

      Interest paid by a Malaysian tax resident to a non-resident

    • C. 

      Services rendered by a Malaysian tax resident via an overseas branch

    • D. 

      Employment income paid by a Malaysian tax resident that relates to employment exercised outside Malaysia

  • 3. 
    In considering a deduction for tax rebate (other than zakat or fitrah) which of the following is correct?
    • A. 

      An individual resident taxpayer who has claimed personal relief is not eligible for a tax rebate

    • B. 

      An individual resident taxpayer with a total income of RM40,000 is eligible for a tax rebate

    • C. 

      If the wife has claimed a tax rebate, the husband cannot claim a tax rebate

    • D. 

      None of the above

  • 4. 
    In arriving at the adjusted income of a business for a company, the following would not qualify for tax deduction :- I. Incorporation expenses of a company with authorised capital not exceeding RM2.5 million at the point of incorporation II. Donations to approved institutions in a relevant year for a year of assessment III. Expenditure on providing infrastructure in relation to its business which is available for public use IV. Revenue expenditure incurred by employers on the provision and maintenance of childcare centre for the benefit of the employees
    • A. 

      I and II

    • B. 

      II and Ill

    • C. 

      I and lll

    • D. 

      Il, III and IV

  • 5. 
    In preparing the income tax computation for XYZ Sdn Bhd, the following qualify for tax deduction :- I. Expenses relating to maintenance of shareholders’ register II. Immigration and professional fees in relation to employment pass for employees III. Gift with company's logo for customer's annual dinner IV. Expenditure on renovation to set up a new branch V. Legal fees incurred for recovery of trade debts
    • A. 

      I, II and V

    • B. 

      IlI and V

    • C. 

      LI, lll and V

    • D. 

      L, ll and lll

  • 6. 
    Which of the following traveling expenses would qualify for tax deduction?
    • A. 

      Air fares to Pulau Langkawi for the directors and their family members

    • B. 

      Air fares to Phuket for the employees and their immediate family for the annual company trip

    • C. 

      Air fares to Singapore for the directors to attend a charity concert together with their business associates

    • D. 

      None of the above

  • 7. 
    All expenses incurred on food and drinks qualify for tax deduction except for:-
    • A. 

      Food and drinks provided during the launch of the 1st housing project

    • B. 

      Food and drinks provided in a meeting with suppliers

    • C. 

      Food and drinks provided during a directors 1st meeting in the year

    • D. 

      Meals provided to employee during a holiday to Genting Highlands

  • 8. 
    Which of the following interest expense do not qualify for tax deduction?
    • A. 

      Interest expense arising from bank loan for purchase of commercial properties for long term investment purposes

    • B. 

      Interest expense arising from bank overdraft for working capital purposes

    • C. 

      Interest expense arising from bank loan for purchase of plant and machinery

    • D. 

      Interest expense arising from bank loan to purchase shares where single tier dividend was received

  • 9. 
    The adjusted loss surrendered by a surrendering company to a claimant company shall be allowed as a deduction against -
    • A. 

      The total income of the claimant company

    • B. 

      The aggregate statutory income of the claimant company from business source only

    • C. 

      The defined aggregate income of the claimant company

    • D. 

      70% of the adjusted income of the claimant company

  • 10. 
    In order to be eligible for group relief for a year of assessment (YA), both surrendering and claimant companies must -
    • A. 

      Be related companies throughout the basis period for that YA

    • B. 

      Make an official application to surrender or claim an amount of adjusted loss for that YA

    • C. 

      Have paid-up share capital in respect of ordinary shares of more than RM2.5 million at the beginning of the basis period for that YA

    • D. 

      Fulfill all the above conditions

  • 11. 
    Which of the following can be arranged into a 5-letter English word?
    • A. 

      H R G S T

    • B. 

      R I L S A

    • C. 

      T O O Q T

    • D. 

      W Q R G S

  • 12. 
    Which one of the five choices makes the best comparison? PEACH is to HCAEP as 46251 is to:
    • A. 

      25641

    • B. 

      26451

    • C. 

      12654

    • D. 

      51462

    • E. 

      15264

  • 13. 
    Mary, who is sixteen years old, is four times as old as her brother. How old will Mary be when she is twice as old as her brother?
    • A. 

      20

    • B. 

      24

    • C. 

      25

    • D. 

      26

    • E. 

      28

  • 14. 
    If you rearrange the letters "CIFAIPC" you would have the name of a(n):
    • A. 

      City

    • B. 

      Animal

    • C. 

      Ocean

    • D. 

      River

    • E. 

      Country

  • 15. 
    What is the missing number in the sequence shown below? 1 - 8 - 27 - ? - 125 - 216
    • A. 

      36

    • B. 

      45

    • C. 

      46

    • D. 

      64

    • E. 

      99

  • 16. 
    If you rearrange the letters "LNGEDNA" you have the name of a(n):
    • A. 

      Animal

    • B. 

      Country

    • C. 

      State

    • D. 

      City

    • E. 

      Ocean

  • 17. 
    A store reduced the price of one of its products by 25 percent. What percentage of the reduced price must it be increased by to put the product back to its original price?
    • A. 

      20 percent

    • B. 

      33 percent

    • C. 

      25 percent

    • D. 

      35 percent

    • E. 

      40 percent

  • 18. 
    Jack is taller than Peter, and Bill is shorter than Jack. Which of the following statements would be more accurate?
    • A. 

      Bill is taller than Peter

    • B. 

      Peter is taller than Bill

    • C. 

      Bill is as tall as Peter

    • D. 

      None of the above

  • 19. 
    Some months have 31 days; how many have 28?
    • A. 

      1

    • B. 

      3

    • C. 

      6

    • D. 

      9

    • E. 

      12

  • 20. 
    How many birthdays does the average man have?
    • A. 

      One

    • B. 

      Every year

  • 21. 
    Failure of an employer to give notice to the Director General of Inland Revenue in respect of the following events would likely result in a fine of RM200 – RM20,000
    • A. 

      Commencement of employment of an individual who is not likely to be chargeable to tax

    • B. 

      Cessation of employment of an employee whose subsequent employer is a rival competitor

    • C. 

      Temporary absence of an employee from Malaysia for a period of 3 months

    • D. 

      None of the above

  • 22. 
    Which of the following is an offence under the Income Tax Act 1967?
    • A. 

      Failure of an individual to keep records of his overseas travelling

    • B. 

      Failure of an individual to give notice of chargeability upon commencement of employment

    • C. 

      Failure of an employer to comply with a direction to deduct tax

    • D. 

      All of the above

  • 23. 
    After submitting her 2017 return form before the due date 30 June 2018, Ms Tan submitted an amended tax return for the year of assessment 2017 on 10 August 2018 which resulted in an additional tax payable of RM500. What would be the amount payable inclusive of penalties, if any?
    • A. 

      RM500.00

    • B. 

      RM550.00

    • C. 

      RM575.00

    • D. 

      RM577.50

  • 24. 
    An audit was conducted on the business premises of Mr Tan. He was asked to give the name and address of the person who prepared his income statement and statement of affairs. However, Mr Tan did not give a reply as he wanted to protect his friend. Mr Tan can be charged in court and if found guilty he is liable to a fine of:
    • A. 

      RM200 - RM20,000

    • B. 

      RM1,000 – RM20,000

    • C. 

      RM1,000 - RM10,000

    • D. 

      None of the above

  • 25. 
    Which of the following income of a Labuan company carrying on investment activities would be subject to tax?
    • A. 

      Gain from the sale of property which was held for 4 years

    • B. 

      Interest income from fixed deposits

    • C. 

      Rental income from properties

    • D. 

      All of the above

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