26. A is a non-VAT business with a total sales of P1,500,000 of which 70% has been collected. Its total purchases inclusive of VAT is P1,120,000. How much is the business tax of A ? A. P180,000 C. P40,000 B. P120,000 D. P-0-

26. A is a non-VAT business with a total sales of P1,500,000 of which 70% has been collected. Its total purchases inclusive of VAT is P1,120,000. How much is the business tax of A ? A. P180,000 C. P40,000 B. P120,000 D. P-0-

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

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26.
A is a non-VAT business with a total sales of P1,500,000 of which 70% has been collected. Its total purchases
inclusive of VAT is P1,120,000. How much is the business tax of A ?
A. P180,000
C. P40,000
B. P120,000
D. P-0-
||

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