1. A VAT-registered business makes a sale of P33,600, inclusive of VAT. The amount of sale that is reported in the statement of comprehensive income can be computed as* a. P33,600 x 112% b. P33,600 / 112% c. P33,600 x 12% / 112% d. P33,600 / 12% / 112%

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Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.