Practice question
Upon termination of a business, what sales or receipts must the sworn statement under LGC145 disclose?
- Gross sales or receipts for the current year.
- Only projected receipts ten years later.
- Only personal household spending.
- Only the original owner's birth-year earnings.
- No sales information is required.
Legal references
- RA7160, LGC Sections139,145-146,150,157-163 and252-253: https://lawphil.net/statutes/repacts/ra1991/ra_7160_1991.html
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