What is the rate of corporate income tax ?
5%
6%
10%
15%
What are the rates of labor taxes ?
2,4,7,11,…%
3%
2,4,7,12,…%
5%
What is the rate of social contributions ?
15%
38.5%
21.5%
23.5%
What is the rate of Value Added Tax (VAT) for exportation
12%
0%
10%
8%
Start-up expenses: Official and attorney fees paid at the time of incorporation. Can the company deduct these expenses in full in the first year of operation?
Yes
No
Don't Know
The company pays the medical insurance premium for its employees. This medical insurance is an extra benefit for the workers and goes beyond what may be mandated by law. Is it Subject to the social contributions tax?
Yes
No
Don't Know
Business travel expenses: Refers to travel by the company managers for business purposes; Is it deductible by the income tax?
Yes
No
Don't Know
Which of the following is not a standard financial statement:
Income statement
Balance sheet
Shareholder sheet
Cash flow statement
What does an income statement show about a company over a period of time?
Profitability
Reliability
Equity
Liabilities
Which of the following is the basic calculation used to analyze an income statement:
Assets minus liabilities
Revenue plus sales
Income minus expenses
Sales plus operating costs
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