A derived its income from its self-operated talpakan business. The details of his business for 2021 are as follows: Gross Receipts - P100,000.00 Operating Expenses - P50,000.00 Income taxes withheld in general - P10,000.00 Question: What is A's taxable income? Group of answer choices P40,000.00 P50,000.00 P90,000.00 P100,000.00

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A derived its income from its self-operated talpakan business. The details of his business for 2021 are as follows:

Gross Receipts - P100,000.00

Operating Expenses - P50,000.00

Income taxes withheld in general - P10,000.00

Question: What is A's taxable income?

Group of answer choices
P40,000.00
P50,000.00
P90,000.00
P100,000.00
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