Engineering Economy Mcqs
Q. 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%?
a. P 9,358.41
b. P 9,228.45
c. P 9,250.00
d. P 9,308.45
No explanation is available for this question!