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income tax legislation and the implications of income tax on individuals and businesses.

it is an comprehensive multiple choice quiz, worth 20% of my grade which need to take it seriously, I uploaded the notes and the subject outline, there is some details about the quiz there and with other information, here is the email from the prof. about the quiz and more details will provided later.——–Hello StudentsJust to advise you that the quiz is up on LMS with explanation about how the quiz is run and the nature of the questions. So please read the instructions now, rather than just before you attempt the quiz.You have an hour and a half and the 3-day quiz closes at 9 pm on Sunday, meaning your latest time to attempt it is really 7.30 pm on Sunday 12th April.The quiz is Open Book. In addition to your 3 mandatory textbooks, you can review LMS materials to assist you prepare .These include:PowerPoint Lecture Slides and PowerPoint Movie/Audios to Week 4Workshop Solutions including Zoom recordings of Workshop Solutions up until Week 4 (Zoom Workshops 3 & 4 are already posted and I will be Zoom recording Workshops 1 and 2 additionally this afternoon, and posting them up later this evening).Please treat this 90 minute multiple choice Quiz of 20 questions very seriously as it accounts for 20 marks in terms of your assessment.There are questions that will test your knowledge and application of the law, including using calculations – make sure you have your calculator.—Randomised questions: The questions are automatically selected at a random order from a question bank. It is possible, although unlikely, that one same question appears twice in your quiz. If it does, just answer it normally, do not skip it.Examples of question format:Example 1Question:”(…) xxxxxxxxxxxxx (…)”Answer( ) True (x) FalseAnswer: In order to answer this type of question, simply select True or False according to your best judgementExample 2Question:Assign True or False to the statements below, then choose the correct alternative:1 – xxxxxxxx (True)2 – xxxxxxxx (False)3 – xxxxxxxx (True)(a) 1-F; 2-F; 3-F(b) 1-T; 2-F; 3-T(c) 1-T; 2-T; 3-TAnswer: The correct answer for this question will be alternative (b), which correctly classifies the statements above in “true” or “false”.Example 3Question:A resident individual received the following amounts during the current income year. Calculate this individual’s tax liability for the current income year.Description of amounts$xx,xxx Salary$xx,xxx Interest$xx,xxx RoyaltiesThis individual’s tax liability for the current income year is (select one):(a) $x,xxx(b) $x,xxx(C)$x,xxxAnswer: In this type of question you must perform the necessary calculations and choose the correct alternative according to your calculations