Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller. 50% of the fixed percentage of gross income or the net taxable income 50% of the fixed percentage of gross income or 50% of the net taxable income Fixed percentage of gross income or the net taxable income Fixed percentage of gross income or 50% of the net taxable income TRUE ANSWER : ? YOUR ANSWER : ?
Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%. P 9,358.41 P 9,250.00 P 9,308.45 P 9,228.45 TRUE ANSWER : ? YOUR ANSWER : ?
Earnings per share is the most important ratio for All of these Share holders Banks Company's management TRUE ANSWER : ? YOUR ANSWER : ?
A college freshman borrowed P2,000 from a bank for his tuition fee and promised to pay the amount for one year. He received only the amount of P1,920 after the bank collected the advance interest of P80.00. What was the rate of discount? 0.0415 0.0367 0.0425 0.04 TRUE ANSWER : ? YOUR ANSWER : ?
A farmer selling eggs at 50 pesos a dozen gains 20%. If he sells the eggs at the same price after the costs of the eggs rises by 12.5%, how much will be his new gain in percent? 0.0665 0.0612 0.0689 0.0658 TRUE ANSWER : ? YOUR ANSWER : ?
What refers to the interest rate at which the present work of the cash flow on a project is zero of the interest earned by an investment? Yield Economic return Return of investment Rate of return TRUE ANSWER : ? YOUR ANSWER : ?
What is defined as the current assets minus inventories and prepaid expenses? Profit margin ratio Price-earnings ratio Return of investment ratio Quick ratio TRUE ANSWER : ? YOUR ANSWER : ?
What rate of interest compounded annually is the same as the rate of interest of 8% compounded quarterly? 0.0807 0.0812 0.0816 0.0824 TRUE ANSWER : ? YOUR ANSWER : ?
The amount of company’s profit that the board of directors of the corporation decides to distribute to ordinary shareholders is called ______. Dividend Share of stock Return Equity TRUE ANSWER : ? YOUR ANSWER : ?
What is the type of annuity that does not have a fixed time span but continues indefinitely or forever? Deferred annuity Ordinary annuity Annuity due Perpetuity TRUE ANSWER : ? YOUR ANSWER : ?