Intax and Stratcost
Intax and Stratcost
2. One of the following is not an inherent limitation on the exercise of the power of
taxation
a. International comity
b. Double taxation
c. Non-delegation of the legislative power to tax
d. Territoriality
Ms. B is the accounting staff of LMN Company, a corporation engaged in the manufacturing of
canned tuna. The following data were taken from the monthly pay slip of Ms. B.
At the end of the year, Ms. B received her 13th month pay of P30,000. Total taxes withheld on
compensation by her employer amounted to P 16,932.
b. P 351,400
c. P 420,000
d. P 420,400
5. How much is the annual income tax due?
a. P 40,200
b. P 24,000
c. P 20,320
d. P 29,000
a. P 2,026,667
b. P 3,750,000
c. P 6,000,000
d. 4,750,000
4. Asteria Company has fixed costs of P100,000 and breakeven sales of P800,000. Based on
this relationship, what is its projected profit at P1,200,000 sales?
a. P 50,000
b. P 100,000
c. P 200,000
d. P 400,000
5. Albatross Company had fixed costs of P90,300. At sales volume of P360,000, return on
sales is 10%; at a P600,000 volume, return on sales is 20%. What is the break-even
volume?
a. P 225,000
b. P 258,000
c. P 300,000
d. P 240,000