1. Which of the following is not deductible from gross income? a. Transportation expense from the main office to the branch b. Transportation expense from home to the office and from the office back to home c. Travel expenses on business trips d. Travel expenses while away from home in the pursuit of trade, business or profession.
1. Which of the following is not deductible from gross income? a. Transportation expense from the main office to the branch b. Transportation expense from home to the office and from the office back to home c. Travel expenses on business trips d. Travel expenses while away from home in the pursuit of trade, business or profession.
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 1MCQ: The definition of gross income in the tax law is: All items specifically listed as income in the tax...
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1. Which of the following is not deductible from gross income?
a. Transportation expense from the main office to the branch
b. Transportation expense from home to the office and from the office back to home
c. Travel expenses on business trips
d. Travel expenses while away from home in the pursuit of trade, business or profession.
2. Examples of taxes that are deductible except:
a. Occupation tax
b. Privilege tax
c. Documentary stamp tax
d. Philippine income tax
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