. Which of the following is required to file an income tax return? A. An employee covered by the substituted filing system. B. A taxpayer deriving purely passive income subject to final tax. C. A special alien with respect to his compensation income. D. A non-resident citizen who derives his entire income form sources outside the Philippines. 2. The taxable income of a mixed income earner is the : A. Net income from business less personal exemption B. Net income from business C. Taxable compensation income D. Taxable compensation income plus net income from business.
. Which of the following is required to file an income tax return? A. An employee covered by the substituted filing system. B. A taxpayer deriving purely passive income subject to final tax. C. A special alien with respect to his compensation income. D. A non-resident citizen who derives his entire income form sources outside the Philippines. 2. The taxable income of a mixed income earner is the : A. Net income from business less personal exemption B. Net income from business C. Taxable compensation income D. Taxable compensation income plus net income from business.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Which of the following is required to file an income tax return?
A. An employee covered by the substituted filing system.
B. A taxpayer deriving purely passive income subject to final tax.
C. A special alien with respect to his compensation income.
D. A non-resident citizen who derives his entire income form sources outside the Philippines.
2. The taxable income of a mixed income earner is the :
A. Net income from business less personal exemption
B. Net income from business
C. Taxable compensation income
D. Taxable compensation income plus net income from business.
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