What Is The Taxable Income Pamplona.

It is a specially designed unit to get the basic knowledge about the taxable income, this assignment is in the form of multiple choice questions, so that students can do their proper research and find the answers accordingly.

Multiple Choice - Problems

1. Mrs. Sanchez Mira had a gross taxable compensation income of P400,000 earned an additional P2,000 by investing her money in time deposits plan interest income from lending money to a friend. Compute her taxable income

a. P303,000 c. P300,000

b. P302,000 d. P403,000

2. Ms. Claveria had a business net income of P300,000, She also earned commission from selling cellular cards and P12,000 dividends from a corporation. Compute her taxable income.

a. P300,000 c. P305,000

b. P312,000 d. P317,000

3. Mr. Pamplona earned total gross receipts of P800,000 and paid p300,000 expenses in his accounting practice. During the same year, he also earned income of P60,000 net gain from the sale of domestic stocks directly to a buyer income disposed a vacant lot at a net gain of P140,000. What is the taxable income Pamplona?

a. P 400,000 c. P 500,000

b. P 460,000 d. P 600,000