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BCLTE > Book 5 > Flashcards

Book 5 Flashcards

1
Q

It refers to the actual cost of the machinery to its present owner, plus the cost of transportation,
handling, and installation at the present site. This is applicable for newly acquired machinery not yet
depreciated and appraised within the year of its purchase.
 a. Acquisition Cost
 b. Actual Use
 c. Ad Valorem Tax
 d. Market Value
 e. Amortization

A

a. Acquisition Cost

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2
Q

It is a levy on real property determined on the basis of a fixed proportion of the value of the real
property.
 a. Acquisition Cost
 b. Actual Use
 c. Ad Valorem Tax
 d. Market Value
 e. Amortization

A

c. Ad Valorem Tax

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3
Q

It refers to the principal purpose for which the property is principally or predominantly utilized by
the person in possession thereof.
 a. Acquisition Cost
 b. Actual Use
 c. Ad Valorem Tax
 d. Market Value
 e. Amortization

A

b. Actual Use

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4
Q

It is a valuable addition made to a property or an amelioration in its condition, amounting to more
than a mere repair or replacement of parts involving capital expenditures and labor, which is intended
to enhance its value, beauty or utility or to adapt it for new or further purposes.
 a. Appraisal
 b. Assessment
 c. Assessment Level
 d. Re-assessment
 e. Improvement

A

e. Improvement

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5
Q

It is the act or process of determining the value of property as of a specific date for a specific purpose.
 a. Appraisal
 b. Assessment
 c. Assessment Level
 d. Re-assessment
 e. Improvement

A

a. Appraisal

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6
Q

It is the assigning of new assessed values to property, particularly real estate, as the result of general,
partial, or individual reappraisal of the property.
 a. Appraisal
 b. Assessment
 c. Assessment Level
 d. Re-assessment
 e. Improvement

A

d. Re-assessment

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7
Q

It is the act or process of determining the value of a property, or proportion thereof subject to tax,
including the discovery, listing, classification, and appraisal of properties.
 a. Appraisal
 b. Assessment
 c. Assessment Level
 d. Re-assessment
 e. Improvement

A

b. Assessment

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8
Q

It is the percentage applied to the fair market value to determine the taxable value of the property.
 a. Appraisal
 b. Assessment
 c. Assessment Level
 d. Re-assessment
 e. Improvement

A

c. Assessment Level

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9
Q

It is the price at which a property may be sold by a seller who is not compelled to sell and bought by
a buyer who is not compelled to buy.
 a. Assessed Value
 b. Depreciated Value
 c. Fair Market Value
 d. Remaining Value
 e. Replacement or Reproduction Cost

A

c. Fair Market Value

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10
Q

It is the cost that would be incurred on the basis of current prices, in acquiring an equally desirable
substitute property, or the cost of reproducing a new replica of the property on the basis of current
prices with the same or closely similar material.
 a. Assessed Value
 b. Depreciated Value
 c. Fair Market Value
 d. Remaining Value
 e. Replacement or Reproduction Cost

A

e. Replacement or Reproduction Cost

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11
Q

It is the value remaining after deducting depreciation from the acquisition cost.
 a. Assessed Value
 b. Depreciated Value
 c. Fair Market Value
 d. Remaining Value
 e. Replacement or Reproduction Cost

A

b. Depreciated Value

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12
Q

It is the value corresponding to the remaining useful life of the machinery.
 a. Assessed Value
 b. Depreciated Value
 c. Fair Market Value
 d. Remaining Value
 e. Replacement or Reproduction Cost

A

d. Remaining Value

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13
Q

It is the fair market value of the real property multiplied by the assessment level. It is synonymous
to taxable value.
 a. Assessed Value
 b. Depreciated Value
 c. Fair Market Value
 d. Remaining Value
 e. Replacement or Reproduction Cost

A

a. Assessed Value

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14
Q

It embraces machines, equipment, mechanical contrivances, instruments, appliances, or apparatus
which may or may not be attached, permanently or temporarily, to the real property.
 a. Useful Life
 b. Remaining Economic Life
 c. Assets
 d. Economic Life
 e. Machinery

A

e. Machinery

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15
Q

It is the period of time expressed in years from the date of appraisal to the date when the machinery
becomes valueless.
 a. Useful Life
 b. Remaining Economic Life
 c. Assets
 d. Economic Life
 e. Machinery

A

b. Remaining Economic Life

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16
Q

It is the estimated period over which it is anticipated that a piece of machinery or equipment may
be profitably utilized.
 a. Useful Life
 b. Remaining Economic Life
 c. Assets
 d. Economic Life
 e. Machinery

A

d. Economic Life

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17
Q

It is land devoted principally to industrial activity as capital investment and is not classified as
agricultural, commercial, timber, mineral, or residential land.
 a. Commercial Land
 b. Idle Lands
 c. Industrial Land
 d. Mineral Lands
 e. Residential Land

A

c. Industrial Land

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18
Q

It is land devoted principally for the object of profit and is not classified as agricultural, industrial,
mineral, timber, or residential land.
 a. Commercial Land
 b. Idle Lands
 c. Industrial Land
 d. Mineral Lands
 e. Residential Land

A

a. Commercial Land

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19
Q

It is land principally devoted to habitation.
 a. Commercial Land
 b. Idle Lands
 c. Industrial Land
 d. Mineral Lands
 e. Residential Land

A

e. Residential Land

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20
Q

These are lands in which minerals, metallic or non metallic, exist in sufficient quantity or grade to
justify the necessary expenditures to extract and utilized such materials.
 a. Commercial Land
 b. Idle Lands
 c. Industrial Land
 d. Mineral Lands
 e. Residential Land

A

d. Mineral Lands

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21
Q

The appraisal, assessment, levy and collection of real property tax shall be guided by the following
fundamental principles except:
 a. Real property shall be appraised at its current and fair market value.
 b. Real property shall be classified for assessment purposes on the basis of its potential use.
 c. Real property shall be assessed on the basis of a uniform classification within each local
government unit.
 d. The appraisal, assessment, levy and collection of real property tax shall not be let to any private
person.
 e. The appraisal and assessment of real property shall be equitable.

A

b. Real property shall be classified for assessment purposes on the basis of its potential use.

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22
Q

A province or city or municipality within Metropolitan Manila Area shall fix a uniform rate of basic real property tax applicable to their respective jurisdiction. For provinces, at what maximum rate of the Assessed Value should the levy be?
 a. 1%
 b. 2%
 c. 3%
 d. 5%
 e. 10%

A

1%

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23
Q

A province or city or municipality within Metropolitan Manila Area shall fix a uniform rate of basic real property tax applicable to their respective jurisdiction. For cities, or municipalities of Metropolitan Manila Area, at what maximum rate of the Assessed Value should the levy be?
 a. 1%
 b. 2%
 c. 3%
 d. 5%
 e. 10%

A

b. 2%

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24
Q

For additional Ad Valorem Tax on idle lands, at what maximum rate of the assessed value of the
property may a province or city, or a municipality within the Metropolitan Manila Area levy an annual
tax in addition to the basic real property tax?
 a. 1%
 b. 2%
 c. 3%
 d. 5%
 e. 10%

A

d. 5%

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25
Q

For additional levy on real property tax for the Special Education Fund outside of Metropolitan Manila
Area, who has the authority to impose the additional SEF tax?
 a. Local Treasurer
 b. Local Chief Executive
 c. Barangay Chairman
 d. Municipality
 e. Province

A

e. Province

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26
Q

A province, city or municipality may impose a special levy on the lands comprised within its territorial jurisdiction specially benefited by public works projects or improvements funded by the LGU concerned.
The tax ordinance imposing the levy shall meet the following requirements except:
 a. Describe with reasonable accuracy the nature, extent, and location of the public works projects
or improvements to be undertaken.
 b. State the estimated cost of the public works projects or improvements.
 c. Identify the lands and owners to be affected or the persons having legal interest therein.
 d. Specify the meters and bounds by monuments and lines.
 e. Specify the number of annual installments for the payment of the special levy.

A

c. Identify the lands and owners to be affected or the persons having legal interest therein.

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27
Q

The following are exempt from real property tax except:
 a. Autonomous regions
 b. Government-Owned or Controlled Corporations
 c. Provinces and sub-provinces
 d. Cities and municipalities
 e. Barangays

A

b. Government-Owned or Controlled Corporations

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28
Q

It refers to any agency of National Government, not integrated within the department framework,
vested with special functions or jurisdiction by law, endowed with some if not all corporate powers,
administering special funds, and enjoying autonomy, usually through a charter.
 a. Local Government Unit
 b. Sanggunian
 c. Local Treasurer
 d. Instrumentality
 e. Congress

A

d. Instrumentality

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29
Q

The real properties owned by the following government-owned or controlled corporations are not exempt from the real property tax except:
 a. Philippine Economic Zone Authority
 b. Bauang Private Power Corporation
 c. McArthur Park and Beach Resort
 d. Land Bank of the Philippines
 e. Embassies, consulates, and other diplomatic officers

A

e. Embassies, consulates, and other diplomatic officers

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30
Q

The real property tax for any year shall accrue and constitute a lien on the property which shall be
superior to any lien, mortgage, or encumbrance of any kind whatsoever, and shall be extinguished only
upon the payment of the delinquent tax, on:
 a. April 15
 b. January 1
 c. January 31
 d. September 30
 e. December 31

A

b. January 1

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31
Q

The Provincial, City or Municipal Assessor shall prepare and submit to the Treasurer of the LGU an assessment roll containing a list of all persons whose real properties have been newly assessed or re-
assessed and the values of such properties, on:

 a. April 15
 b. January 1
 c. January 31
 d. September 30
 e. December 31

A

e. December 31

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32
Q

For the current year, the City or Municipal Treasurer shall, in the case of the basic real property tax
for the SEF, post the notice of the dates when the tax may be paid without interest at a conspicuous
and publicly accessible place at the city or municipal hall, on or before:
 a. April 15
 b. January 1
 c. January 31
 d. September 30
 e. December 31

A

c. January 31

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33
Q

The owner of the real property or the person having legal interest therein may pay the real property tax and the additional tax for SEF due thereon, without interest, in 4 equal installments, to be due and
payable as follows:
 a. January 1, April 1, July 1, and October 1
 b. January 31, April 30, July 31, and October 31
 c. March 31, June 30, September 30, and December 31
 d. April 15, July 15, October 15, and December 31
 e. None of the above

A

c. March 31, June 30, September 30, and December 31

34
Q

For payment of tax under protest, the taxpayer shall file a protest to the Provincial, City Treasurer,
or Municipal Treasurer in the case of a municipality within Metropolitan Area, within:
 a. 30 days
 b. 45 days
 c. 60 days
 d. 6 months
 e. 2 years

A

a. 30 days

35
Q

The Provincial, City Treasurer, or Municipal Treasurer in the case of a municipality within
Metropolitan Manila Area shall decide the protest filed by the taxpayer when the payment was made
under protest, within:
 a. 30 days
 b. 45 days
 c. 60 days
 d. 6 months
 e. 2 years

A

c. 60 days

36
Q

An act providing for the recognition and use of electronic commercial and non-commercial
transactions, penalties for unlawful use thereof, and other purposes.
 a. R. A. No. 7160
 b. R. A. No. 6657
 c. R. A. No. 6810
 d. R. A. No. 8792
 e. R. A. No. 7279

A

d. R. A. No. 8792

37
Q

An act instituting a comprehensive agrarian reform program to promote social justice and
industrialization providing the mechanism for its implementation and for other purposes.
 a. R. A. No. 7160
 b. R. A. No. 6657
 c. R. A. No. 6810
 d. R. A. No. 8792
 e. R. A. No. 7279

A

b. R. A. No. 6657

38
Q

The basic real property tax and any other tax levied under Title 2, Book II of R. A. No. 7160 shall, from
the date they become due, be collected within:
 a. 5 years
 b. 7 years
 c. 10 years
 d. 15 years
 e. 20 years

A

a. 5 years

39
Q

In case of fraud or intent to evade payment of the real property tax, an administrative or judicial
action may be instituted for the collection of the same, from the discovery of such fraud or intent to
evade payment, within:
 a. 5 years
 b. 7 years
 c. 10 years
 d. 15 years
 e. 20 years

A

c. 10 years

40
Q

The period of prescription within which to collect the real property tax levied under Title 2, Book II of R. A. No. 7160 shall be suspended for the time during any the following scenarios except:
 a. The Local Treasurer is legally prevented from collecting the tax.
 b. The owner of the property has no financial capacity to pay the tax.
 c. The owner of the property or the person having legal interest therein requests for re- investigation and executes a waiver in writing before the expiration of the period within which to collect.
 d. The owner of the property or the person having legal interest therein is out of the country or otherwise cannot be located.
 e. None of the above

A

b. The owner of the property has no financial capacity to pay the tax.

41
Q

The Warrant of Levy shall be mailed to or served upon the delinquent real property owner or person
having legal interest therein, and after receipt of the same, the levying officer shall submit a report on
the levy to the sanggunian concerned within:
 a. 3 days
 b. 5 days
 c. 10 days
 d. 15 days
 e. 30 days

A

c. 10 days

42
Q

After service of the Warrant of Levy, the Local Treasurer shall proceed to publicly advertise for sale
or auction the property or a usable portion thereof as may be necessary to satisfy the tax delinquency
and expenses of sale which shall be effected by the issuance of a Notice of Sale and the posting and
publication thereof, within:
 a. 3 days
 b. 5 days
 c. 10 days
 d. 15 days
 e. 30 days

A

e. 30 days

43
Q

It is issued by the Local Treasurer concerned, together with the official receipt and tax clearance
which shall in effect extinguish the tax lien on the property if the owner of the real property or person
having legal interest therein pays the delinquent tax, the interest due thereon and the expenses of sale
before the date fixed for the sale.
 a. Certificate of Release
 b. Proof of Service
 c. Warrant of Levy
 d. Certificate of Redemption
 e. Certificate of Sale

A

a. Certificate of Release

44
Q

It is issued by the Local Treasurer to the purchaser containing the name of the purchaser, a description
of the property sold, the amount of the delinquent tax, the interest due thereon, the expenses of sale
and brief description of the proceedings.
 a. Certificate of Release
 b. Proof of Service
 c. Warrant of Levy
 d. Certificate of Redemption
 e. Certificate of Sale

A

e. Certificate of Sale

45
Q

It is issued by the Local Treasurer to the owner of the delinquent real property or person having
legal interest therein invalidating the Certificate of Sale issued to the purchaser if he pays the amount
of the delinquent tax, including the interest due thereon and the expenses of the sale plus interest of
2% per month within one year from date of sale.
 a. Certificate of Release
 b. Proof of Service
 c. Warrant of Levy
 d. Certificate of Redemption
 e. Certificate of Sale

A

d. Certificate of Redemption

46
Q

In case there is no bidder for the real property advertised for sale, the local Treasurer shall purchase
the property in behalf of the LGU concerned. The taxpayer or any of his representative may redeem the
property by paying to the Local Treasurer the full amount of the real property tax and the related
interest and cost of the sale within:
 a. 6 months
 b. 1 year
 c. 2 years
 d. 3 years
 e. 5 years

A

b. 1 year

47
Q

For real estate taken for taxes, fees or charges, the sanggunian concerned may, by ordinance duly
approved, may dispose of the real property acquired under Section 263 of R. A. No. 7160 at public
auction, upon notice of not less than:
 a. 5 days
 b. 15 days
 c. 20 days
 d. 30 days
 e. None of the above

A

c. 20 days

48
Q

The proceeds of the basic real property tax, including interest thereon, and proceeds from the use,
lease or disposition, sale or redemption of property acquired by public auction by the province shall be
distributed accordingly. At what percentage of the proceeds will accrue to the General Fund of the
province?
 a. 35%
 b. 70%
 c. 40%
 d. 50%
 e. 25%

A

a. 35%

49
Q

The proceeds of the basic real property tax, including interest thereon, and proceeds from the use,
lease or disposition, sale or redemption of property acquired by public auction by the province shall be
distributed accordingly. At what percentage of the proceeds will accrue to the barangay where the
property is located?
 a. 35%
 b. 70%
 c. 40%
 d. 50%
 e. 25%

A

e. 25%

50
Q

The proceeds of the basic real property tax, including interest thereon, and proceeds from the use,
lease or disposition, sale or redemption of property acquired by public auction by the province shall be
distributed accordingly. At what percentage of the proceeds will accrue to the General Fund of the
municipality where the property is located?
 a. 35%
 b. 70%
 c. 40%
 d. 50%
 e. 25%

A

c. 40%

51
Q

The proceeds of the basic real property tax, including interest thereon, and proceeds from the use,
lease or disposition, sale or redemption of property acquired by public auction by the city shall be
distributed accordingly. At what percentage of the proceeds will accrue to the General Fund of the city?
 a. 30%
 b. 70%
 c. 40%
 d. 50%
 e. 25%

A

b. 70%

52
Q

The proceeds of the basic real property tax, including interest thereon, and proceeds from the use,
lease or disposition, sale or redemption of property acquired by public auction by the province shall be
distributed accordingly. At what percentage of the proceeds will accrue to the barangay where the
property is located or equally to all component barangays of the city?
 a. 30%
 b. 70%
 c. 40%
 d. 50%
 e. 25%

A

d. 50%

53
Q

The proceeds of the basic real property tax, including interest thereon, and proceeds from the use,
lease or disposition, sale or redemption of property acquired by public auction by the province shall be
distributed accordingly. At what percentage of the proceeds shall be distributed among the component
barangays of the cities where the property is located?
 a. 30%
 b. 70%
 c. 40%
 d. 50%
 e. 25%

A

a. 30%

54
Q

These are those imposed by a local government unit on the privilege of engaging in business,
occupation and other activities within its territorial jurisdiction.
 a. Amusement Places
 b. Agricultural Product
 c. Business taxes
 d. Business
 e. Amusement

A

c. Business taxes

55
Q

It includes the yield of the soil, such as corn, rice, wheat, rye, hay, coconuts, sugarcane, tobacco, root
crops, vegetables, fruits, flowers and their by-products; ordinary salt; all kinds of fish; poultry; and
livestock and animal products, whether in their original form or not.
 a. Amusement Places
 b. Agricultural Product
 c. Business taxes
 d. Business
 e. Amusement

A

b. Agricultural Product

56
Q

A pleasurable diversion and entertainment. It is synonymous to relaxation, avocation, pastime, or
fun.
 a. Amusement Places
 b. Agricultural Product
 c. Business taxes
 d. Business
 e. Amusement

A

e. Amusement

57
Q

These include theaters, cinemas, concert halls, circuses and other places of amusement where one
seeks admission to entertain oneself by seeing or viewing the show or performance.
 a. Amusement Places
 b. Agricultural Product
 c. Business taxes
 d. Business
 e. Amusement

A

a. Amusement Places

58
Q

It means trade or commercial activity regularly engaged in as a means of livelihood or with a view to
profit.
 a. Amusement Places
 b. Agricultural Product
 c. Business taxes
 d. Business
 e. Amusement

A

d. Business

59
Q

It include non-bank financial intermediaries, lending investors, finance and investment companies,
pawnshops, money shops, insurance companies, stock markets, stock brokers and dealers in securities
and foreign exchange, as defined under applicable law, or rules and regulations thereunder.
 a. Central Bank
 b. Credit card companies
 c. Banks and other financial institutions
 d. Financial service providers
 e. Banking investments

A

c. Banks and other financial institutions

60
Q

It is the capital which a person employs in any undertaking, or which he contributes to the capital
of a partnership, corporation, or any other juridical entity or association in a particular taxing
jurisdiction.
 a. Corporation
 b. Capital Investment
 c. Contractor
 d. Countryside and Barangay Business Enterprise
 e. Charges

A

b. Capital Investment

61
Q

These refer to pecuniary liability, as rents or fees against persons or property.
 a. Corporation
 b. Capital Investment
 c. Contractor
 d. Countryside and Barangay Business Enterprise
 e. Charges

A

e. Charges

62
Q

It includes persons, natural or juridical, not subject to professional tax under Section 139 of R. A.
No. 7160, whose activity consists essentially of the sale of all kinds of services for a fee, regardless of
whether or not the performance of the service calls for the exercise or use of the physical or mental
faculties of the contractor or his employees.
 a. Corporation
 b. Capital Investment
 c. Contractor
 d. Countryside and Barangay Business Enterprise
 e. Charges

A

c. Contractor

63
Q

It includes partnerships, no matter how created or organized, joint-stock companies, joint accounts
(cuentas en participacion), associations or insurance companies.
 a. Corporation
 b. Capital Investment
 c. Contractor
 d. Countryside and Barangay Business Enterprise
 e. Charges

A

a. Corporation

64
Q

It refers to any business entity, association, or cooperative registered under the provisions of R. A.
No. 6810.
 a. Corporation
 b. Capital Investment
 c. Contractor
 d. Countryside and Barangay Business Enterprise
 e. Charges

A

d. Countryside and Barangay Business Enterprise

65
Q

It means one whose business is to buy and sell merchandise, goods, and chattels as a merchant. He stands immediately between the producer or manufacturer and the consumer and depends for his profit not upon the labor he bestows upon his commodities but upon the skill and foresight with which
he watches the market.
 a. Gross Sales or Receipts
 b. Dealer
 c. Franchise
 d. Fee
 e. Operator

A

b. Dealer

66
Q

It means a charge fixed by law or ordinance for the regulation or inspection of a business or activity.
 a. Gross Sales or Receipts
 b. Dealer
 c. Franchise
 d. Fee
 e. Operator

A

d. Fee

67
Q

It is a right or privilege, affected with public interest which is conferred upon private persons or
corporations, under such terms and conditions as the government and its political subdivisions may
impose in the interest of public welfare, security, and safety.
 a. Gross Sales or Receipts
 b. Dealer
 c. Franchise
 d. Fee
 e. Operator

A

c. Franchise

68
Q

It included the total amount of money or its equivalent representing the contract price, compensation or service fee, including the amount charged or materials supplied with the services and the deposits or advance payments actually or constructively received during the taxable quarter for the services performed or to be performed for another person.
 a. Gross Sales or Receipts
 b. Dealer
 c. Franchise
 d. Fee
 e. Operator

A

a. Gross Sales or Receipts

69
Q

It includes every person who, by physical or chemical process, alters the exterior texture or form or
inner substance of any raw material or manufactured or partially manufactured product in such manner
as to prepare it for special use or uses to which it could not have been put in its original condition.
 a. Marginal Farmer or Fisherman
 b. Manufacturer
 c. Municipal Waters
 d. Motor Vehicle
 e. Businessman

A

b. Manufacturer

70
Q

It refers to an individual engaged in subsistence farming or fishing which shall be limited to the sale,
barter or exchange of agricultural or marine products produced by himself and his immediate family,
and whose annual net income from such farming or fishing does not exceed Php 50,000.00 or the
poverty line established by NEDA for the particular region or locality, whichever is higher.
 a. Marginal Farmer or Fisherman
 b. Manufacturer
 c. Municipal Waters
 d. Motor Vehicle
 e. Businessman

A

a. Marginal Farmer or Fisherman

71
Q

It means any vehicle propelled by any power other than muscular power using the public roads, but
excluding road rollers, trolley cars, street sweepers, sprinkles, lawn mowers, bulldozers, graders,
forklifts, amphibian trucks, and cranes.
 a. Marginal Farmer or Fisherman
 b. Manufacturer
 c. Municipal Waters
 d. Motor Vehicle
 e. Businessman

A

d. Motor Vehicle

72
Q

It include streams, lakes, tidal waters within the municipality, marine waters included between two
lines drawn perpendicularly to the general coastline from points where the boundary lines of the
municipality or city touch the sea at low tide and a third line parallel with the general coastline and 15
kilometers from it.
 a. Marginal Farmer or Fisherman
 b. Manufacturer
 c. Municipal Waters
 d. Motor Vehicle
 e. Businessman

A

c. Municipal Waters

73
Q

It includes the owner, manager, administrator, or any other person who operates or is responsible
for the operation of a business establishment or undertaking.
 a. Residents
 b. Peddler
 c. Persons
 d. Operator
 e. Civilian

A

d. Operator

74
Q

It means any person who, either for himself or on commission, travels from place to place and sells
his goods or offers to sell and deliver the same.
 a. Residents
 b. Peddler
 c. Persons
 d. Operator
 e. Civilian

A

b. Peddler

75
Q

They refer to every natural or juridical being, susceptible of rights and obligations or of being the
subject of legal relations.
 a. Residents
 b. Peddler
 c. Persons
 d. Operator
 e. Civilian

A

c. Persons

76
Q

It refer to natural persons who have their habitual residence in the province, city, or municipality
where they exercise their civil rights and fulfill their civil obligations, and to juridical persons for which
the law or any other provisions creating or recognizing them fixes their residence in a particular
province, city or municipality.
 a. Residents
 b. Peddler
 c. Persons
 d. Operator
 e. Civilian

A

a. Residents

77
Q

It means a sale where the purchaser buys the commodity for his own consumption irrespective of
the quantity of the commodity sold.
 a. Wharfage
 b. Wholesale
 c. Retail
 d. Vessel
 e. Operator

A

c. Retail

78
Q

It includes every type of boat, craft, or other artificial contrivance used, or capable of being used, as
means of transportation on water.
 a. Wharfage
 b. Wholesale
 c. Retail
 d. Vessel
 e. Operator

A

d. Vessel

79
Q

It means a fee assessed against the cargo of a vessel engaged in foreign or domestic trade based on
quantity, weight, or measure received and/or discharged by vessel.
 a. Wharfage
 b. Wholesale
 c. Retail
 d. Vessel
 e. Operator

A

a. Wharfage

80
Q

It means a sale where the purchaser buys or imports the commodities for resale to persons other
than the end user regardless of the quantity of the transaction.
 a. Wharfage
 b. Wholesale
 c. Retail
 d. Vessel
 e. Operator

A

b. Wholesale

BCLTE (6 decks)

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