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Questions -
Q1. Cruz sold a certain property for P100,000. At the time of sale, the property had a fair value of P500,000. The property was previously acquired at cost of P40,000. For taxation purposes, how much shall be subject to transfer tax (in this case, donor's tax)?
a. P40,000
b. P100,000
c. P400,000
d. P460,000
Q2. Melissa Corporation had the following details of output VAT and input VAT in a month: Output VAT - 680,000; Input Vat on exempt sales - P P120,000; Input VAT on Zero-rated sales - P240,000; Input VAT on regular sales P600,000; Input VAT claimed as tax refund - P50,000; What is the input VAT carry over at the end of the month?
a. P180,000
b. P140,000
c. P80,000
d. P60,000
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Think about one contract, Describe the contract and how it was created. If there is a section that you don't understand include that as well.
Tony Company is contemplating of marketing a new product. If the product is expected to sell for P25 per unit, how many units must Tony sell to breakeven
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Which of the following bases can be used to allocate supervisors' salaries across operating departments?
advantage of a sole proprietorship form of business?
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How are managerial accounting concepts useful for a decision-maker at any level in an organization? Make sure to include different levels of decision-makers in your reply.
Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software.
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