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A resident citizen obtains P9,500 each from the following sources, net of final tax. Under which of the following passive income does the government obtain the least amount of final tax? * O share in net income of a taxable partnership O prizes O interest income from bank deposits 1900 O interest income from tax-free covenant bonds

A resident citizen obtains P9,500 each from the following sources, net of final tax. Under which of the following passive income does the government obtain the least amount of final tax? * O share in net income of a taxable partnership O prizes O interest income from bank deposits 1900 O interest income from tax-free covenant bonds

FINANCIAL ACCOUNTING
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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A resident citizen obtains P9,500 each from the following sources, net of final tax. Under which of the following passive income does the government obtain the least amount of final tax? * O share in net income of a taxable partnership O prizes O interest income from bank deposits 1900 O interest income from tax-free covenant bonds
Transcribed Image Text:A resident citizen obtains P9,500 each from the following sources, net of final tax. Under which of the following passive income does the government obtain the least amount of final tax? * O share in net income of a taxable partnership O prizes O interest income from bank deposits 1900 O interest income from tax-free covenant bonds
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