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BUSINESS TAXATION 2026-VERSION WITH QUALITY QUESTIONS AND VERIFIED ANSWERS 100% CORRECT WITH RATIONELS. 1. What is taxation? A. Voluntary payment to government B. Compulsory levy by government C. Donation to public funds D. Business profit Ans

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BUSINESS TAXATION 2026-VERSION WITH QUALITY QUESTIONS AND VERIFIED ANSWERS 100% CORRECT WITH RATIONELS. 1. What is taxation? A. Voluntary payment to government B. Compulsory levy by government C. Donation to public funds D. Business profit Answer: B Taxation is a compulsory financial charge imposed by the government on individuals and businesses. 2. Direct tax includes: A. VAT B. Excise duty C. Income tax D. Import duty Answer: C Income tax is paid directly by the taxpayer to the government. 3. Indirect tax is: A. Paid directly to government B. Shifted to another person C. Based on income only D. Optional payment Answer: B Indirect taxes like VAT are passed on to consumers.

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BUSINESS TAXATION
2026-VERSION WITH
QUALITY QUESTIONS
AND VERIFIED
ANSWERS 100%
CORRECT WITH
RATIONELS.
1. What is taxation?
A. Voluntary payment to government
B. Compulsory levy by government

,C. Donation to public funds
D. Business profit
Answer: B
Taxation is a compulsory financial charge
imposed by the government on
individuals and businesses.


2. Direct tax includes:
A. VAT
B. Excise duty
C. Income tax
D. Import duty
Answer: C
Income tax is paid directly by the
taxpayer to the government.

,3. Indirect tax is:
A. Paid directly to government
B. Shifted to another person
C. Based on income only
D. Optional payment
Answer: B
Indirect taxes like VAT are passed on to
consumers.


4. VAT stands for:
A. Variable Added Tax
B. Value Added Tax
C. Voluntary Asset Tax
D. Valid Assessment Tax

, Answer: B
VAT is charged on value added at each
production stage.


5. Tax evasion is:
A. Legal tax planning
B. Illegal non-payment of tax
C. Tax exemption
D. Tax relief
Answer: B
Tax evasion is unlawful avoidance of tax
liability.


6. Tax avoidance is:

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