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1. The process by which the sovereign raises income to defray the expenses of the
government is
a. Subsidy c. Taxation
b. Tariff d. Tribute
4. All of the following, except one, are basic principles of the sound tax system
a. Fiscal adequacy c. Administrative feasibility
b. Theoretical justice d. Inherent sovereignty
5. They restrict the exercise of the power of taxation although they are not
embodied in the Constitution
a. Theoretical justice c. Inherent limitations
b. Legislative in character d. Constitutional limitations
11. A tax that is imposed upon a person who is directly bound to pay it
a. Direct tax c. Excise tax
b. Indirect tax d. Poll tax
12. Forms part of purchase price of the commodity or service and passed on to
customers
a. Direct tax c. Excise tax
b. Indirect tax d. Poll or community tax