BBB Corporation is a resident foreign corporation with total assets in the Philippines amounting to 30M, excluding the land on which its office issituated. For the taxable 2021, its net taxable was 4M. Considering only the foregoing, how much income tax must have been paid by BBB for the taxable year 2021? A. 1,200,000 B. 1,000,000 C. 800,000 D. 500,000
BBB Corporation is a resident foreign corporation with total assets in the Philippines amounting to 30M, excluding the land on which its office issituated. For the taxable 2021, its net taxable was 4M. Considering only the foregoing, how much income tax must have been paid by BBB for the taxable year 2021? A. 1,200,000 B. 1,000,000 C. 800,000 D. 500,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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BBB Corporation is a resident foreign corporation with total assets in the Philippines amounting to 30M, excluding the land on which its office issituated. For the taxable 2021, its net taxable was 4M. Considering only the foregoing, how much income tax must have been paid by BBB for the taxable year 2021?
A. 1,200,000
B. 1,000,000
C. 800,000
D. 500,000
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