Nicanor, an employee of ABC Corp., suffered an accident at work and died. The following are information were made available by the employer: Basic salary Php 600,000.00 13th month pay and other benefits 100,000.00 Commission 100,000.00 Separation Pay 500,000.00 Gross compensation income Php 1,300,000.00 Question: How much is the total exclusions from gross income? a. Php 590,000 b. Php 90,000 c. Php 180,000 d. Php 600,000

Nicanor, an employee of ABC Corp., suffered an accident at work and died. The following are information were made available by the employer: Basic salary Php 600,000.00 13th month pay and other benefits 100,000.00 Commission 100,000.00 Separation Pay 500,000.00 Gross compensation income Php 1,300,000.00 Question: How much is the total exclusions from gross income? a. Php 590,000 b. Php 90,000 c. Php 180,000 d. Php 600,000

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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