47 Miss Daniella: Cassie di ka muna papasok ng school!Cassie: But Tita!Casie, left alone after arguing with the decision of her Tita, decided to focus in the world ofscience. With just a week span of not going to school she invented an automobile that can runwithout the need of any gasoline but just by pure water. Later on, she was awarded by NobelPeace Prize Award for this exemplary output. She was given plaque and P150,000 as an award.Question: Explain the tax consequence of such awards *10% final withholding tax20% final withholding taxRegular taxTax exempt

Tax is the amount which is paid by the taxpayer on the earnings earned during the year on the tax…

Answered: Question: Explain the tax consequence…

Business

Accounting

Question: Explain the tax consequence of such awards

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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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Miss Daniella: Cassie di ka muna papasok ng school!
Cassie: But Tita!
Casie, left alone after arguing with the decision of her Tita, decided to focus in the world of
science. With just a week span of not going to school she invented an automobile that can run
without the need of any gasoline but just by pure water. Later on, she was awarded by Nobel
Peace Prize Award for this exemplary output. She was given plaque and P150,000 as an award.
Question: Explain the tax consequence of such awards *
10% final withholding tax
20% final withholding tax
Regular tax
Tax exempt

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