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

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

Section: Chapter Questions

Problem 1Q

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Question

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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