Income From Business Chapter- 09
(d) None of theseQ. 16 Apportionment of common expenditure is necessary when income is derived from ___ class of
income
(a) One
(b) Two
(c) Three
(d) More than one
Q. 17 If a liability in respect of an expense allowed as deduction is not paid within __, it shall be treated
as income in the year on expiry of the said ____.
(a) One year
(b) Two years
(c) Three years
(d) Four years
Q. 18 In case the asset is not owned by the lessor, amount received in connection with the lease is taxable
under
(a) Income from property
(b) Income from business
(c) Income from other sources
(d) Capital gains
Q. 19 The amount of deduction allowed on account of bad debts may be ___ to trade debtors
(a) Higher
(b) Less
(c) Equal
(d) Both ‘b’ and ‘c’Q. 20 An amalgamation company is allowed a deduction on account of __
(a) Legal expenses
(b) Selling expenses
(c) Management expenses
(d) None of these
(e) only (a) and (c)Q. 21 Where a person has been allowed a deduction in respect of a trading liability then the benefits from
such liability shall be chargeable to tax under____.
(a) Business Income
(b) Income from other sources
(c) none of these.
Q. 22 Any expenditure incurred on training of any Pakistani in connection with a scheme specially approved
by Board for the purpose of business is __
(a) Deductible
(b) not deductible
Q. 23 Expenditure incurred on the rental of a building for the scientific research, outside the Pakistan are