Santo Cristo Institute of Engineering and Accountancy (SCIEA), is an educational institution offering senior high school and tertiary education. It is registered with and accredited by the Department of Education (DepEd) and Commission on Higher Education (CHED). Which of the following income is taxable under the identified type of tax regardless of the school being proprietary or non-stock, non-profit educational institution? a.) the importation of laboratory equipments - from customs duties b.)the school building being rented by the school - from real property tax c.)a portion of the school building being leased to a fastfood chain - from real property tax d.)the income from operation - from income tax
Santo Cristo Institute of Engineering and Accountancy (SCIEA), is an educational institution offering senior high school and tertiary education. It is registered with and accredited by the Department of Education (DepEd) and Commission on Higher Education (CHED). Which of the following income is taxable under the identified type of tax regardless of the school being proprietary or non-stock, non-profit educational institution? a.) the importation of laboratory equipments - from customs duties b.)the school building being rented by the school - from real property tax c.)a portion of the school building being leased to a fastfood chain - from real property tax d.)the income from operation - from income tax
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Santo Cristo Institute of Engineering and Accountancy (SCIEA), is an educational institution offering senior high school and tertiary education. It is registered with and accredited by the Department of Education (DepEd) and Commission on Higher Education (CHED). Which of the following income is taxable under the identified type of tax regardless of the school being proprietary or non-stock, non-profit educational institution?
a.) the importation of laboratory equipments - from customs duties
b.)the school building being rented by the school - from real property tax
c.)a portion of the school building being leased to a fastfood chain - from real property tax
d.)the income from operation - from income tax
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