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1. Which distinction between capital and income is stated in Madrigal? Multiple Choice Easy
2. What does the concept of income ordinarily imply in Shinko’s discussion? Multiple Choice Easy
3. Under current section 32(A), compensation may be paid in what form? Multiple Choice Easy
4. A lender receives repayment of P100,000 principal and P8,000 interest. Assume no special tax rule. Which is the basic i… Multiple Choice Medium
5. A worker receives valuable property as payment for services and argues nothing can be income because no cash changed ha… Multiple Choice Medium
6. A head office remits operating funds to its representative office, and the evidence establishes these are internal fund… Multiple Choice Hard
7. A company moves P500,000 of its existing cash from one account to another without any gain, service payment, or other i… Multiple Choice Hard
8. Explain capital as a fund and income as a flow, using a principal-and-return example. Essay Medium
9. Why is a cash inflow not necessarily income, and why can noncash value nevertheless be income? Essay Medium
10. Explain Shinko’s relevance to distinguishing operating remittances from income. Essay Medium
11. Which equity-based item does NIRC32(A)(1), as amended by RA12214, expressly include in compensation? Multiple Choice Easy
12. What timing does the amended NIRC32(A)(1) expressly state for including equity-based compensation in gross income? Multiple Choice Easy