. The executor, administrator or any of the heirs are required to inform the BIR of such fact within 30 days from date of death. S2 - Nicanor donated his delivery van to the ABC Foundation, a non-stock, non-profit organization but reserved his right to use the same until such time he needs it. Upon death of Nicanor, the donation is no longer part of the estate if deed of donation is notarized. Group of answer choices Both are true

. The executor, administrator or any of the heirs are required to inform the BIR of such fact within 30 days from date of death. S2 - Nicanor donated his delivery van to the ABC Foundation, a non-stock, non-profit organization but reserved his right to use the same until such time he needs it. Upon death of Nicanor, the donation is no longer part of the estate if deed of donation is notarized. Group of answer choices Both are true

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

S1 - Nicanor died. The executor, administrator or any of the heirs are required to inform the BIR of such fact within 30 days from date of death.
S2 - Nicanor donated his delivery van to the ABC Foundation, a non-stock, non-profit organization but reserved his right to use the same until such time he needs it. Upon death of Nicanor, the donation is no longer part of the estate if deed of donation is notarized.

Group of answer choices

Both are true

S1 is true

S2 is true

Both are false

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