On May 1, 2004 a company purchased a new machine which it does not have to pay for until May 1, 2006. The total payment on May 1, 2006 will include both principal and interest. Assuming interest at a 10% rate, the cost of the machine would be the total payment multiplied by what time value of money factor?

A 10 percent, ₱3,000, 3-month note receivable discounted at 12 percent for 2 months will result in net proceeds of

A non-VAT person decided to optionally register his VAT-subject transactions under the VAT system. He became VAT-registered during the year. He was also engaged in the sale of agricultural and marine food products in their original state. He wanted to, likewise, register, under the VAT system, his VAT-exempt sales. He approached you to seek advice as to what business tax will he be liable to. What will be your answer?

Ching Ah Chung, accomplished singer from Hongkong, is included in one of the local films produced by Bebecu Productions. Ching Ah Chung stays in the Philippines for five (5) months and makes the Philippines his temporary home as required in the contract. How will you classify Ching Ah Chung for Philippine income tax purposes?

Acceptance of an offer made by letter or telegram shall bind the offeror from the time:

I. the offeree has knowledge of the offer

II. the offeree sent his acceptance

III. the acceptance is communicated

IV. the offeror made the offer

A contract of sale whereby the seller acquires the right to repurchase the object of the sale from the buyer within a certain period agreed upon:

I. Equitable Mortgage

II. Legal Redemption

III. On Sale or Return

IV. Conventional Redemption

A cost that always can be physically traced to a cost objective is

If DOTC expects that an increase in the MRT fare will raise mass transportation revenues for the government, it must think that relative to prices, the demand for MRT is

The economic order quantity is the order quantity that results in