I. X, taxi operator, with gross receipts of 2M only, can avail the 8% optional income tax rate. II. Taxes imposed and collected by BIR are payable in money or in kind
I. X, taxi operator, with gross receipts of 2M only, can avail the 8% optional income tax rate. II. Taxes imposed and collected by BIR are payable in money or in kind
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 3MC
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Question
I. X, taxi operator, with gross receipts of 2M only, can avail the 8% optional income tax rate.
II. Taxes imposed and collected by BIR are payable in money or in kind
o Both are true
o Both are false
o Only I is true
o Only II is true
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