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1) Under the cash receipts and disbursements method, the
taxpayer reports income in the year:
2)
What item should not be included in income?
3) Which of the following statements is true with respect to
marginal and average tax rates?
4) In terms of dollars, wage earning taxpayers will normally
pay the majority of their tax liability:
5)
Income may be realized in the form of:
6) Maria is 21 years of age and a full-time student living by
herself. She had wages of $19,000 for 2007. Can Maria claim the
exemption for herself on her tax return?
7) For tax purpose, marital status is determined as of the …….
Day of the year
8) Pedro agreed to repair a house for a client and started to
work on December 30, 2006. On January 2, 2008, he completed
the job and received payment from the client. Pedro must record
the income in: