Scribd
Upload
55 views1 page

SW 1 Estate Tax USLS

The document is a seatwork assignment for a Taxation 2 class that contains two sections - a true/false section with 10 statements about succession, wills, heirs, and estate tax, and a multiple choice section with 5 questions about elements of succession, donation mortis causa, compulsory heirs, applicable estate tax laws, and the nature of estate tax. Students are asked to determine if each statement is true or false and choose the correct answer for each multiple choice question.

Uploaded by

July-Anne Dublin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
55 views1 page

SW 1 Estate Tax USLS

The document is a seatwork assignment for a Taxation 2 class that contains two sections - a true/false section with 10 statements about succession, wills, heirs, and estate tax, and a multiple choice section with 5 questions about elements of succession, donation mortis causa, compulsory heirs, applicable estate tax laws, and the nature of estate tax. Students are asked to determine if each statement is true or false and choose the correct answer for each multiple choice question.

Uploaded by

July-Anne Dublin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 1

University of St.

La Salle – Bacolod
Taxation 2
Seatwork No. 1
Prof. Atty. Diana Fe B. Tan, CPA

Name: __________________________________ Class Schedule: _____________ Date: ___________

I. TRUE OR FALSE. Determine whether the statements provided below is True of False.
Write your answer on the space provided.

____________1. A decedent with a last will and testament is said to be intestate.

____________2. In testamentary disposition, the heirs must always be relatives of the


decedent.

____________3. Inheritance refers to the property which will be transmitted to the heirs.

____________4. The decedent’s successors in interest are referred to as heirs.

____________5. The right to succession is transmitted from the moment of death of the
decedent.

____________6. The will may be prepared by the heirs of the decedent.

____________7. A debt can be inherited.

____________8. Successions whether testamentary, intestate, or mixed are subject to


estate tax.

____________9. A person who prepared a will is referred to as the executor.

____________10. The will may be prepared after the death of the decedent.

II. MULTIPLE CHOICE. Encircle the letter of the correct answer

1. Which is not an element of succession?


a. Decedent c. Estate
b. Estate Tax d. Heirs

2. The donor in a donation mortis causa is


a. dead. c. either living or death.
b. Living. d. in a coma.

3. Who is not a compulsory heir?


a. An adopted child c. The surviving spouse
b. Children of a deceased child d. A brother

4. There are several estate tax laws in the history of estate taxation in the Philippines.
Which applies to a particular decedent?
a. The estate tax law in effect when the properties of the decedent are being
accumulated
b. The estate tax law in effect at the date of the decedent’s death
c. The estate tax law in effect at the date the last will and testament was prepared
d. The estate tax law in effect upon determination of the legal heirs

5. Which is correct?
a. Estate tax is determined per piece of property transferred to the heir.
b. Estate tax is collected by the local government.
c. Estate tax is a property tax.
d. Estate tax is an excise tax.

You might also like