Multiple Choice In 2021, V earned P880,000 compensation income but incurred P420,000 net loss in her business. What is her taxable income assuming she incurred personal expenses of P360,000. P20,000 O P460,000 P520,000 P880,000

Multiple Choice In 2021, V earned P880,000 compensation income but incurred P420,000 net loss in her business. What is her taxable income assuming she incurred personal expenses of P360,000. P20,000 O P460,000 P520,000 P880,000

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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. 10:11 O O
01:58:30 Remaining
Multiple Choice
In 2021, V earned P880,000
compensation income but
incurred P420,000 net loss in
her business. What is her taxable
income assuming she incurred
personal expenses of P360,000.
P20,000
P460,000
P520,000
P880,000
9 of 60

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