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Sale of an capital assets

Sale of an capital assets

FINANCIAL ACCOUNTING
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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37. Sale of an capital assets is subject to * a. Regular Income tax b. Capital Gains Tax c. Excise Tax d. Final income Tax 38. Which is not a Exempt Interest Income * a. Interest income from long-term deposit or investment in the form of savings, common or individual trusty funds, deposit substitute, and other investments. b. Interest income derived from loans, bonds, and other domestic securities and deposits in banks in the Philippines by foreign governments c. Interest income from Foreign currency deposit units deposits of non-resident individuals and corporations. d. Interest Income from deposits in Bank
Transcribed Image Text:37. Sale of an capital assets is subject to * a. Regular Income tax b. Capital Gains Tax c. Excise Tax d. Final income Tax 38. Which is not a Exempt Interest Income * a. Interest income from long-term deposit or investment in the form of savings, common or individual trusty funds, deposit substitute, and other investments. b. Interest income derived from loans, bonds, and other domestic securities and deposits in banks in the Philippines by foreign governments c. Interest income from Foreign currency deposit units deposits of non-resident individuals and corporations. d. Interest Income from deposits in Bank
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