The term Corporation shall include:I. Partnerships, no matter how created or organized II. Joint stock companies III. Joint accounts (ceuntas en participation) IV. Associations V. Insurance companies VI. Mutual fund companies VII. Regional headquarters of multinational corporations

TAXES

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The term “Corporation “ shall include:I. Partnerships, no matter how created or organized II. Joint stock companies III. Joint accounts (ceuntas en participation) IV. Associations V. Insurance companies VI. Mutual fund companies VII. Regional headquarters of multinational corporations

A	I and II only
B	I, II, and III only
C	I, II, III, IV, and V only
D	all of the above

Explanation:

Detailed explanation-1: -Partnerships, no matter how created or organized, are taxable as corporation for income tax purposes.

Detailed explanation-2: -(C) The term ‘domestic, ’ when applied to a corporation, means created or organized in the Philippines or under its laws.

Detailed explanation-3: -Resident foreign corporation (RFC) applies to a foreign corporation engaged in trade or business within the Philippines.

There is 1 question to complete.

MANAGEMENT

BUISENESS MANAGEMENT

TAXES