Mr. Santos is engaged in the business of restaurant business. In the year 2018, the Regional Director of the Bureau of Internal Revenue issued a letter of authority to the BIR District Officer in order to assess, review and to examine the books of accounts of Mr. Santos. Without any preliminary assessment notice or any final demand issued to Mr. Santos, the BIR immediately ordered the closure his. Is the BIR correct in immediately ordering the closure of the business of Mr. Santos? Why?

Mr. Santos is engaged in the business of restaurant business. In the year 2018, the Regional Director of the Bureau of Internal Revenue issued a letter of authority to the BIR District Officer in order to assess, review and to examine the books of accounts of Mr. Santos. Without any preliminary assessment notice or any final demand issued to Mr. Santos, the BIR immediately ordered the closure his. Is the BIR correct in immediately ordering the closure of the business of Mr. Santos? Why?

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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