Explain the 3 Classification of individuals based on type of earnings: a. Pure compensation income earner b. Pure business or professional income c. Mixed income earner II. Multiple Choice. 1. Rewards received by Hidilyn Diaz from government is a. Subject to income tax b. Subject to donor’s tax c. Exempted from income tax 2. Rewards received by Hidilyn Diaz from private individuals/ organizations is a. Subject to income tax b. Subject to donor’s tax c. Exempted from income tax
Explain the 3 Classification of individuals based on type of earnings: a. Pure compensation income earner b. Pure business or professional income c. Mixed income earner II. Multiple Choice. 1. Rewards received by Hidilyn Diaz from government is a. Subject to income tax b. Subject to donor’s tax c. Exempted from income tax 2. Rewards received by Hidilyn Diaz from private individuals/ organizations is a. Subject to income tax b. Subject to donor’s tax c. Exempted from income tax
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
I. Explain the 3 Classification of individuals based on type of
earnings:
a. Pure compensation income earner
b. Pure business or professional income
c. Mixed income earner
II. Multiple Choice.
1. Rewards received by Hidilyn Diaz from government is
a. Subject to income tax
b. Subject to donor’s tax
c. Exempted from income tax
2. Rewards received by Hidilyn Diaz from private individuals/ organizations is
a. Subject to income tax
b. Subject to donor’s tax
c. Exempted from income tax
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