ation purc the execu ch is the f

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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3. Omega Corporation purchased a motor vehicle worth P1,400,000 for the use of its executive. It was
registered under the executive's name despite the agreemnt that it should be used partly for the company's
benefit. How much is the fringe benefits tax?
Transcribed Image Text:3. Omega Corporation purchased a motor vehicle worth P1,400,000 for the use of its executive. It was registered under the executive's name despite the agreemnt that it should be used partly for the company's benefit. How much is the fringe benefits tax?
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