Statement 1: When a taxpayer receives a car from a corporation for furnishing the names of potential customers, the same is a taxable income. Statement 2: When a foreign corporation "donates" stocks to its resident manager in the Philippines in consideration of his services as such, the value of the shares shall be considered as taxable compensation.

Statement 1: When a taxpayer receives a car from a corporation for furnishing the names of potential customers, the same is a taxable income. Statement 2: When a foreign corporation "donates" stocks to its resident manager in the Philippines in consideration of his services as such, the value of the shares shall be considered as taxable compensation.

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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Just the last three subparts please, thank you!!!!
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