Dtc Test Run 1
Time allowed : 1 hour and 30 minutes This quiz have 40 multiple choice questions which are compulsory and MUST be attempted
- 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
Correct Answer
D. All of the aboveExplanation
All of the terms mentioned in the options (plant, machinery, and building) are defined in the Income Tax Act, 1967. This means that the Act provides specific definitions for these terms, which are used to determine the tax treatment and deductions related to these assets. Including all of the above options ensures that none of the terms are left out and captures the comprehensive scope of the Act's definitions.Rate this question:
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- 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
Correct Answer
B. Interest paid by a Malaysian tax resident to a non-residentExplanation
The correct answer is "Interest paid by a Malaysian tax resident to a non-resident." This is because the question asks about income derived from Malaysia, and in this case, it refers to the interest paid by a Malaysian tax resident to a non-resident. This income is derived from Malaysia because it involves the payment of interest by a resident of Malaysia.Rate this question:
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- 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
Correct Answer
B. An individual resident taxpayer with a total income of RM40,000 is eligible for a tax rebateExplanation
An individual resident taxpayer with a total income of RM40,000 is eligible for a tax rebate. This means that if an individual resident taxpayer has a total income of RM40,000, they are eligible to receive a tax rebate. It does not matter if they have claimed personal relief or if their spouse has also claimed a tax rebate. The eligibility for a tax rebate is solely based on the individual's total income.Rate this question:
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- 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
Correct Answer
B. II and IllExplanation
Donations to approved institutions in a relevant year for a year of assessment and expenditure on providing infrastructure in relation to its business which is available for public use do not qualify for tax deduction.Rate this question:
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- 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
Correct Answer
C. LI, lll and VExplanation
The correct answer is II, III, and V. Expenses relating to maintenance of shareholders' register (I) and expenditure on renovation to set up a new branch (IV) do not qualify for tax deduction. However, immigration and professional fees in relation to employment pass for employees (II), gift with the company's logo for customer's annual dinner (III), and legal fees incurred for recovery of trade debts (V) are eligible for tax deduction.Rate this question:
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- 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
Correct Answer
D. None of the aboveExplanation
The question asks which traveling expenses would qualify for tax deduction. However, none of the given options would qualify for tax deduction. The first option mentions air fares for directors and their family members to Pulau Langkawi, but personal travel expenses are generally not tax deductible. The second option mentions air fares for employees and their immediate family for an annual company trip, which is also not typically tax deductible. The third option mentions air fares for directors to attend a charity concert with business associates, but entertainment expenses are usually not tax deductible. Therefore, none of the options would qualify for tax deduction.Rate this question:
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- 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
Correct Answer
B. Food and drinks provided in a meeting with suppliersExplanation
Expenses incurred on food and drinks provided in a meeting with suppliers do not qualify for tax deduction. This is because these expenses are considered as business entertainment expenses rather than necessary and ordinary business expenses. Business entertainment expenses are generally not deductible for tax purposes as they are seen as personal in nature and not directly related to the production of income. Therefore, while expenses on food and drinks in other situations may be eligible for tax deduction, those incurred in a meeting with suppliers are not.Rate this question:
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- 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
Correct Answer
D. Interest expense arising from bank loan to purchase shares where single tier dividend was receivedExplanation
Interest expense arising from bank loan to purchase shares where single tier dividend was received does not qualify for tax deduction because it is related to the purchase of shares, which is considered an investment activity. In most tax jurisdictions, interest expenses incurred for investment purposes are not eligible for tax deductions. The single tier dividend received indicates that the shares are subject to a specific tax regime where the dividend is not taxed at the corporate level, further supporting the notion that the interest expense is not deductible.Rate this question:
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- 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
Correct Answer
C. The defined aggregate income of the claimant companyExplanation
The adjusted loss surrendered by a surrendering company to a claimant company is allowed as a deduction against the defined aggregate income of the claimant company. This means that the claimant company can offset the loss against its overall income, reducing its taxable income. This deduction is specifically limited to the defined aggregate income of the claimant company, rather than the total income or any other specific calculation.Rate this question:
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- 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
Correct Answer
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 YAExplanation
The correct answer is "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." This means that both surrendering and claimant companies must have paid-up share capital of more than RM2.5 million at the start of the basis period for the year of assessment in order to be eligible for group relief. The other conditions mentioned, such as being related companies throughout the basis period and making an official application, are not sufficient on their own to qualify for group relief.Rate this question:
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- 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
Correct Answer
B. R I L S AExplanation
The letters R, I, L, S, and A can be rearranged to form the English word "Rails".Rate this question:
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- 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
Correct Answer
E. 15264Explanation
The correct answer is 15264 because it is the reverse order of the numbers in the given analogy. In the analogy, PEACH is spelled backwards as HCAEP, so we need to reverse the order of the numbers 46251 to find the correct answer.Rate this question:
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- 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
Correct Answer
B. 24 -
- 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
Correct Answer
C. OceanExplanation
By rearranging the letters "CIFAIPC", we can form the word "PACIFIC". The Pacific Ocean is the largest and deepest ocean on Earth, covering more than 30% of the planet's surface. Therefore, the correct answer is Ocean.Rate this question:
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- 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
Correct Answer
D. 64Explanation
The sequence is formed by raising the numbers to the power of 3. The first number is 1 raised to the power of 3, which is 1. The second number is 2 raised to the power of 3, which is 8. The third number is 3 raised to the power of 3, which is 27. The fourth number is 4 raised to the power of 3, which is 64. The fifth number is 5 raised to the power of 3, which is 125. The sixth number is 6 raised to the power of 3, which is 216. Therefore, the missing number in the sequence is 64.Rate this question:
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- 16.
If you rearrange the letters "LNGEDNA" you have the name of a(n):
- A.
Animal
- B.
Country
- C.
State
- D.
City
- E.
Ocean
Correct Answer
B. CountryExplanation
The letters "LNGEDNA" can be rearranged to form the word "ENGLAND," which is the name of a country.Rate this question:
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- 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
Correct Answer
B. 33 percentExplanation
If the store reduced the price of the product by 25 percent, it means that the price is now 75 percent of the original price. To put the product back to its original price, the store needs to increase the reduced price by a certain percentage. Since the reduced price is 75 percent of the original price, an increase of 33 percent would bring it back to 100 percent, which is the original price.Rate this question:
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- 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
Correct Answer
D. None of the aboveExplanation
The given question states that Jack is taller than Peter and Bill is shorter than Jack. Based on this information, we can conclude that Bill is shorter than both Jack and Peter. Therefore, none of the statements provided in the options is accurate.Rate this question:
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- 19.
Some months have 31 days; how many have 28?
- A.
1
- B.
3
- C.
6
- D.
9
- E.
12
Correct Answer
E. 12Explanation
All months have at least 28 days. However, the question is asking how many months have exactly 28 days. Since all months have at least 28 days, the answer is 12.Rate this question:
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- 20.
How many birthdays does the average man have?
- A.
One
- B.
Every year
Correct Answer
A. OneExplanation
The average man has one birthday. This is because a birthday refers to the day a person is born, and each person only has one day they were born. However, every year, the person celebrates their birthday, but it does not mean they have multiple birthdays.Rate this question:
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- 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
Correct Answer
D. None of the aboveExplanation
The given statement states that failure to give notice to the Director General of Inland Revenue in respect of certain events would result in a fine. However, none of the events mentioned in the options would likely result in such a fine. Therefore, the correct answer is "None of the above".Rate this question:
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- 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
Correct Answer
C. Failure of an employer to comply with a direction to deduct taxExplanation
The correct answer is "Failure of an employer to comply with a direction to deduct tax." This is an offence under the Income Tax Act 1967 because employers have a legal obligation to deduct taxes from their employees' income and remit them to the tax authorities. Failure to comply with this direction is a violation of the law and can result in penalties or legal action.Rate this question:
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- 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
Correct Answer
B. RM550.00Explanation
When Ms Tan submitted an amended tax return after the due date, she incurred a penalty for late filing. The penalty for late filing is 5% of the additional tax payable, which in this case is RM500. Therefore, the penalty amount is RM25 (5% of RM500). Adding the penalty to the additional tax payable, the total amount payable inclusive of penalties is RM525. However, since the options provided do not include this amount, the closest option is RM550. Therefore, the correct answer is RM550.00.Rate this question:
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- 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
Correct Answer
C. RM1,000 - RM10,000Explanation
Mr Tan can be charged in court and if found guilty, he is liable to a fine of RM1,000 - RM10,000. This is because Mr Tan failed to comply with the audit request by not providing the name and address of the person who prepared his income statement and statement of affairs. By refusing to cooperate and protect his friend, Mr Tan is in violation of the audit process, which can result in legal consequences and financial penalties.Rate this question:
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- 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
Correct Answer
D. All of the aboveExplanation
All of the mentioned income sources - gain from the sale of property, interest income from fixed deposits, and rental income from properties - would be subject to tax for a Labuan company carrying on investment activities. This means that the company would be required to pay taxes on all of these sources of income.Rate this question:
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- 26.
Which of the following payments made to a non-resident person by a Labuan company are NOT subject to withholding tax?
- A.
Royalties
- B.
Management and technical fees for services rendered in Malaysia
- C.
Interest on loan provided by its holding company which is located overseas
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
All of the above payments made to a non-resident person by a Labuan company are NOT subject to withholding tax. This means that none of the payments for royalties, management and technical fees for services rendered in Malaysia, or interest on a loan provided by its overseas holding company are subject to withholding tax.Rate this question:
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- 27.
Which of the following statements is TRUE?
- A.
A Labuan company (LC) is given an irrevocable election on whether to be charged to tax in accordance with the Income Tax Act 1967
- B.
A LC carrying on Labuan non-trading activities is not taxable and is not required to file any statutory declaration
- C.
Labuan trading activity includes shipping, banking, insurance, trading, management or any other similar activity
- D.
All of the above
Correct Answer
A. A Labuan company (LC) is given an irrevocable election on whether to be charged to tax in accordance with the Income Tax Act 1967Explanation
A Labuan company (LC) is given the option to choose whether or not to be taxed according to the Income Tax Act 1967. This means that LC has the power to decide whether it wants to be subject to taxation or not. This option is irrevocable, meaning that once LC makes a decision, it cannot be changed.Rate this question:
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- 28.
With the amendment to the Promotion of Investments Act 1986, the following incentives are no longer available:-
- A.
Industrial adjustment allowance
- B.
Abatement of adjusted income
- C.
Export allowance
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The correct answer is "All of the above." This means that with the amendment to the Promotion of Investments Act 1986, all of the mentioned incentives - industrial adjustment allowance, abatement of adjusted income, and export allowance - are no longer available.Rate this question:
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- 29.
TSY Sdn Bhd is a company set up in Malaysia to manufacture a promoted product. The company began its operations 3 months ago and it is expected that capital expenditure of RM50 million would be incurred on factories, plant and machinery in the next 5 years to build and expand its operations. Projected profit for the initial years would be low due to high capital investments and cost penetration strategy to gain market share. In order to maximize tax-exempt income, which of the following incentive should the company apply for?
- A.
Pioneer status
- B.
Investment tax allowance
- C.
Reinvestment allowance
- D.
Infrastructure allowance
Correct Answer
B. Investment tax allowanceExplanation
The company should apply for the investment tax allowance. This incentive allows the company to deduct a percentage of the qualifying capital expenditure from its taxable income. Since TSY Sdn Bhd is planning to invest RM50 million in factories, plant, and machinery over the next 5 years, the investment tax allowance would help to reduce its taxable income and maximize tax-exempt income. This incentive is particularly beneficial for companies that are in the early stages of operations and have high capital investments.Rate this question:
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- 30.
Which of the following expense is eligible for double deduction claim?
- A.
Remuneration of employees for the period they were hospitalised
- B.
Payment for services of a contract research and development company
- C.
Leave passage provided to disabled employees
- D.
None of the above
Correct Answer
B. Payment for services of a contract research and development companyExplanation
Payment for services of a contract research and development company is eligible for double deduction claim. This means that the expenses incurred for hiring a contract research and development company can be deducted twice from the taxable income. This is a benefit provided by the tax system to encourage businesses to invest in research and development activities.Rate this question:
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- 31.
These are some conditions for a person to qualify for initial allowance in respect of an industrial building except I. he incurred capital expenditure on the construction of a building II. he incurred capital expenditure on the purchase of a building III. he was the owner of the building at the end of the basis period IV. the building was about to be used as an industrial building
- A.
I, II and III
- B.
I, IIl and IV
- C.
II and III
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The correct answer is "All of the above." This means that all of the conditions listed in options I, II, III, and IV are necessary for a person to qualify for initial allowance in respect of an industrial building. This implies that if any of the conditions are not met, the person will not be eligible for the initial allowance.Rate this question:
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- 32.
Any unabsorbed capital allowance may be carried forward to be set off against (note: there is no substantial change in shareholding)
- A.
Income of the following years from non-business source
- B.
Income of the following years from the same business source
- C.
Income of the following years from all business sources
- D.
Unabsorbed capital allowance cannot be carried forward
Correct Answer
B. Income of the following years from the same business sourceExplanation
Unabsorbed capital allowance refers to the portion of capital allowance that has not been fully utilized in a particular year. This means that the business has incurred more capital expenditure than it can deduct from its taxable income in that year. The given answer states that the unabsorbed capital allowance can be carried forward to be set off against income from the same business source in the following years. This means that the business can offset the unabsorbed capital allowance against its future taxable income, reducing its tax liability. This is a common practice to ensure that the business receives the full benefit of the capital expenditure over time.Rate this question:
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- 33.
The operational lease payment of a new non-commercial motor vehicle started in January 2018. The cost of the motor vehicle in January 2018 was RM130,000. The total lease payments is RM160,000 over four years. The total lease payments that is deductible shall not exceed
- A.
RM160,000
- B.
RM130,000
- C.
RM100,000
- D.
RM50,000
Correct Answer
C. RM100,000Explanation
The total lease payments that are deductible shall not exceed RM100,000. This means that the maximum amount that can be deducted from taxes for the lease payments of the motor vehicle is RM100,000. This is because the cost of the motor vehicle in January 2018 was RM130,000, but the total lease payments over four years is only RM160,000. Therefore, the deductible amount is limited to the total lease payments made, which is RM100,000.Rate this question:
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- 34.
The incorrect tax treatment for purchase of assets under a hire-purchase transaction is
- A.
To claim capital allowance on principal payments made during the year
- B.
To claim capital allowance on principal and interest payments made during the year
- C.
To expense off the interest payments
- D.
None of the above
Correct Answer
B. To claim capital allowance on principal and interest payments made during the yearExplanation
Under a hire-purchase transaction, the correct tax treatment for the purchase of assets is to claim capital allowance on principal payments made during the year. This means that the taxpayer can deduct a portion of the principal payments as an expense for tax purposes. However, claiming capital allowance on both principal and interest payments is incorrect because only the principal payments are eligible for this deduction. Additionally, expensing off the interest payments is also incorrect as interest payments are typically not deductible as an expense for tax purposes. Therefore, the correct answer is to claim capital allowance on principal and interest payments made during the year.Rate this question:
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- 35.
Which statement is incorrect? I. Balancing allowance is the withdrawal of capital allowance previously claimed II. The balancing charge cannot be greater than the total amount of capital allowance claimed previously III. Upon disposal of an asset in a control transfer situation, we do not compute balancing charge/balancing allowance IV. Balancing charge/allowance is only computed where there is a sale proceed
- A.
I, II and III
- B.
Il, IIl and IV
- C.
I and IV
- D.
All of the above
Correct Answer
C. I and IVExplanation
The statement in option I is incorrect because balancing allowance is not the withdrawal of capital allowance previously claimed. The statement in option IV is also incorrect because balancing charge/allowance is not only computed where there is a sale proceeds.Rate this question:
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- 36.
In the case of an investment holding company (not listed in Bursa Malaysia), permitted expenses include
- A.
Directors fees, audit, secretarial and tax fees
- B.
Rental of office, rental and maintenance of equipment, salaries and allowance
- C.
Audit and accounting fees, directors fees and tax fees
- D.
Management fees, telephone and postage charges, salaries and accounting fees
Correct Answer
D. Management fees, telepHone and postage charges, salaries and accounting feesExplanation
The correct answer is management fees, telephone and postage charges, salaries and accounting fees. These expenses are considered permitted expenses for an investment holding company that is not listed in Bursa Malaysia. This means that the company is allowed to deduct these expenses from its taxable income. Directors fees, audit, secretarial and tax fees are not included in the permitted expenses for this type of company. Similarly, rental of office, rental and maintenance of equipment, and audit and accounting fees are also not considered permitted expenses.Rate this question:
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- 37.
Bee Sdn Bhd has made a royalty payment to a Japanese company on 20 March 2018 in respect of royalty for the month of February 2018 charged in invoice dated 10 March 2018. When was the withholding tax due to be paid to IRB on the above royalty payment?
- A.
One month from 20 March 2018
- B.
One month from 10 March 2018
- C.
One month from 28 February 2018
- D.
20-Mar-18
Correct Answer
A. One month from 20 March 2018Explanation
The withholding tax on the royalty payment was due to be paid to IRB one month from 20 March 2018. This means that the deadline for paying the withholding tax would be 20 April 2018.Rate this question:
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- 38.
AB Ltd, a company resident in Australia, has received payment of RM2,500,000 from CD Sdn Bhd for the supply, installation and commissioning of machines at the factory of CD Sdn Bhd for a duration of 3 months. It was agreed that RM2,000,000 is for the supply of machines and the balance of RM500,000 is for installation and commissioning services. What is the amount of withholding tax payable on the above payment of RM2,500,000?
- A.
RM250,000
- B.
RM65,000
- C.
RM50,000
- D.
RM0
Correct Answer
D. RM0Explanation
The amount of withholding tax payable on the payment of RM2,500,000 is RM0 because AB Ltd is a company resident in Australia and the payment is made by CD Sdn Bhd, which is a resident company in Malaysia. According to the double tax treaty between Australia and Malaysia, withholding tax is not applicable on payments made between resident companies of both countries. Therefore, no withholding tax is payable in this case.Rate this question:
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- 39.
Mr. Lim was employed as a sales manager in Company ABC in January 2009. He retired from the company on 15 May 2018 on reaching the age of 55. He was paid a lump sum payment of RM200,000 and a gold-plated watch costing RM2,000. What is the taxable amount of the above payment/gift received by Mr. Lim.
- A.
RM202,000
- B.
RM193,000
- C.
RM2,000
- D.
RM0
Correct Answer
B. RM193,000Explanation
The taxable amount of the payment/gift received by Mr. Lim is RM193,000. This is because the lump sum payment of RM200,000 and the cost of the gold-plated watch (RM2,000) are both considered as taxable income. Therefore, the total taxable amount is RM202,000. However, since Mr. Lim retired on reaching the age of 55, he is eligible for a tax exemption of RM9,000. Subtracting this exemption from the total taxable amount gives us RM193,000.Rate this question:
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- 40.
Mr. Klaus is a resident of Germany. In February 2018 he was selected by a Malaysian company to provide architectural services with regard to a new office building. His fees was RM1 million. Most of the time spent on the job was in Germany. He estimated that the value of his time spent in Malaysia with regard to the project was RM200,000. The withholding tax to be deducted by the Malaysian company is
- A.
RM100,000
- B.
RM70,000
- C.
RM20,000
- D.
RM14,000
Correct Answer
D. RM14,000Explanation
The withholding tax to be deducted by the Malaysian company is RM14,000. This is because the Malaysian company is required to deduct withholding tax on the fees paid to Mr. Klaus for his architectural services in Malaysia. The withholding tax rate in Malaysia for non-residents is generally 14%. Since Mr. Klaus estimated that the value of his time spent in Malaysia for the project was RM200,000, the withholding tax to be deducted would be 14% of RM200,000, which is RM28,000. Therefore, the correct answer is RM14,000.Rate this question:
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- 41.
I know how to prepare a pivot table on Microsoft Excel. If you ____________________________________.
- A.
Told me you were having trouble, I would help you
- B.
Would have told me you were having trouble, I would have helped you
- C.
Told me you were having trouble, I would have helped you
- D.
Had told me you were having trouble, I would have helped you
Correct Answer
D. Had told me you were having trouble, I would have helped youExplanation
The correct answer is "had told me you were having trouble, I would have helped you." This answer is in the third conditional form, which is used to talk about hypothetical situations in the past. In this case, the speaker is referring to a past event where the person did not inform them about their trouble with preparing a pivot table. The use of "had told" indicates that the informing should have happened before the speaker could have offered help. The phrase "I would have helped you" expresses the speaker's willingness to assist if they had known about the trouble.Rate this question:
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- 42.
__________ I work on this engagement all day, I’ll never finish on time.
- A.
In spite of
- B.
Despite
- C.
Even if
- D.
Even though
Correct Answer
C. Even ifExplanation
The phrase "Even if" is the correct answer because it indicates a hypothetical or unlikely situation. In this context, it suggests that the speaker believes that no matter how much they work on the engagement, they will still not be able to finish on time. It implies that there are significant obstacles or challenges that make completing the task within the given timeframe highly unlikely.Rate this question:
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- 43.
My team will definitely have the work done on time for IRB submission. ____________________.
- A.
We've used to work with strict deadlines
- B.
We're used to working with strict deadlines
- C.
We used to work with strict deadlines
- D.
We're used to work with strict deadlines
Correct Answer
B. We're used to working with strict deadlinesExplanation
The correct answer is "We're used to working with strict deadlines." This answer is correct because it uses the correct verb tense and structure. "We're used to" indicates that the team is accustomed to working with strict deadlines, suggesting that they have experience in meeting deadlines in the past. The use of the present continuous tense "working" also indicates that the team is currently engaged in working with strict deadlines.Rate this question:
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- 44.
My previous boss always insisted ______________________________________________. He didn’t tolerate people arriving late.
- A.
we are on time
- B.
To be on time
- C.
We be on time
- D.
Us to be on time
Correct Answer
C. We be on timeExplanation
The correct answer is "we be on time." This is because the sentence is in the past tense and is referring to the boss's insistence on punctuality. The phrase "we be on time" is in the subjunctive mood, which is used to express a hypothetical or desired action. In this case, the boss is expressing his desire for his employees to always be on time.Rate this question:
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- 45.
We will have some important visitors here tomorrow for the proposal meeting. _________________________.
- A.
I'd appreciate it if you can dress professionally
- B.
I'd appreciate it if you could dress professionally
- C.
I'll appreciate it if you could dress professionally
- D.
I'll appreciate it if you can dress professionally
Correct Answer
B. I'd appreciate it if you could dress professionallyExplanation
The correct answer is "I'd appreciate it if you could dress professionally." This is the most polite and grammatically correct way to express the request. "I'd" is a contraction of "I would," which adds a polite tone to the sentence. "Could" is used to indicate a polite request, while "can" is more direct and less polite.Rate this question:
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- 46.
_________________________________________________________. He was expecting my call — I told him I would call right after lunch.
- A.
I needed to call my client but I forgot
- B.
I had to call my client but I forgot
- C.
I must have called my client but I forgot
- D.
I was supposed to call my client but I forgot
Correct Answer
D. I was supposed to call my client but I forgotExplanation
The given correct answer "I was supposed to call my client but I forgot" accurately reflects the situation described in the statement. The speaker had a responsibility or obligation to call their client, but they forgot to do so. This answer captures the intended meaning of the statement and provides a concise explanation of the situation.Rate this question:
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- 47.
Your presentation should include visual aids, ______________________________________.
- A.
For example pictures, tables, and graphs
- B.
As pictures, tables, and graphs
- C.
Such as pictures, tables, and graphs
- D.
For instance pictures, tables, and graphs
Correct Answer
C. Such as pictures, tables, and grapHsExplanation
The correct answer is "such as pictures, tables, and graphs." This answer suggests that visual aids such as pictures, tables, and graphs should be included in the presentation. These visual aids can help to enhance the understanding and engagement of the audience by providing visual representations of data, concepts, or ideas. They can also make the presentation more visually appealing and memorable.Rate this question:
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- 48.
It was nice meeting you. _________________________________.
- A.
I look forward to working with you
- B.
I'm looking forward to work with you
- C.
I'll look forward to working with you
- D.
I look forward to work with you
Correct Answer
A. I look forward to working with youExplanation
The correct answer is "I look forward to working with you" because it is the grammatically correct and polite way to express anticipation for future collaboration. The phrase "look forward to" is followed by the gerund form of the verb, which is "working" in this case. The other options either have incorrect verb forms or lack the necessary preposition "to."Rate this question:
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- 49.
Management is very concerned about this. _________________________________________.
- A.
It's important that the problem be dealt with right away
- B.
It's important that the problem is dealt with right away
- C.
It's important that the problem is dealed with right away
- D.
It's important that the problem be dealed with right away
Correct Answer
A. It's important that the problem be dealt with right awayExplanation
The correct answer is "It's important that the problem be dealt with right away." The use of "be dealt with" is the correct form of the verb in this context. The word "be" is used to indicate the subjunctive mood, which expresses a hypothetical or desired situation. In this case, it expresses the importance of dealing with the problem. The use of "dealt" is the correct past participle form of the verb "deal" in this context.Rate this question:
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- 50.
Knowing people is important. _________________________________________________________.
- A.
The best connections you have, the more successful you will be
- B.
The better connections you have, the more successful you will be
- C.
The better connections you have, the more successfully you will be
- D.
The better connections have you, the more successful you will be
Correct Answer
B. The better connections you have, the more successful you will beExplanation
Having a strong network of connections is crucial for success. The more connections you have, the greater your chances of achieving success. These connections can provide opportunities, support, and valuable resources that can help you progress in your personal and professional life. By building and nurturing relationships with a diverse range of people, you increase your access to knowledge, opportunities, and support systems that can contribute to your overall success.Rate this question:
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Mar 20, 2023Quiz Edited by
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Jun 25, 2019Quiz Created by
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