Ms. Delta has a P800,000 net taxable income, what is her tax rate? A. 20% of the excess over ₱250,000 B. ₱30,000 + 25% of the excess over ₱400,000 C. ₱130,000 + 30% of the excess over ₱800,000 D. ₱490,000 + 32% of the excess over ₱2,000,000

Ms. Delta has a P800,000 net taxable income, what is her tax rate? A. 20% of the excess over ₱250,000 B. ₱30,000 + 25% of the excess over ₱400,000 C. ₱130,000 + 30% of the excess over ₱800,000 D. ₱490,000 + 32% of the excess over ₱2,000,000

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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Question

1. Ms. Delta has a P800,000 net taxable income, what is her tax rate? A. 20% of the excess over ₱250,000 B. ₱30,000 + 25% of the excess over ₱400,000 C. ₱130,000 + 30% of the excess over ₱800,000 D. ₱490,000 + 32% of the excess over ₱2,000,000 2. Mr. Bravo has Php 275,000 net taxable income, what is his tax rate? A. 20% of the excess over ₱250,000 B. ₱30,000 + 25% of the excess over ₱400,000 C. ₱130,000 + 30% of the excess over ₱800,000 D. ₱490,000 + 32% of the excess over ₱2,000,000

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