Vergo Company acquired a motor vehicle for P1,000,000 for the use of one of its on-call employees. Compute the monetary value of fringe benefits subject to tax. * O 1,000,000 O 500,000 O 200,000 O 100,000 O Zero

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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e/1FAlpQLSemRocZlysC1 Omxn3WN
DNEqZ0cNLOvBFeteSg98lhAYbXw/formResponse
O 2,400,000
Vergo Company acquired a motor vehicle for P1,000,000 for the use of
one of its on-call employees. Compute the monetary value of fringe
benefits subject to tax. *
O 1,000,000
500,000
O 200,000
O 100,000
O Zero
Transcribed Image Text:e/1FAlpQLSemRocZlysC1 Omxn3WN DNEqZ0cNLOvBFeteSg98lhAYbXw/formResponse O 2,400,000 Vergo Company acquired a motor vehicle for P1,000,000 for the use of one of its on-call employees. Compute the monetary value of fringe benefits subject to tax. * O 1,000,000 500,000 O 200,000 O 100,000 O Zero
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