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Philippine Bar review · Question

Practice question: Realization and Recognition

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Practice question

Explain realization versus recognition and give a statutory illustration.

Legal references

  • https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html — NIRC, section 40(A)–(C)
  • https://lawphil.net/statutes/repacts/ra2021/ra_11534_2021.html — RA 11534, section 10 amending NIRC section 40(C)(2)
  • https://lawphil.net/statutes/repacts/ra2025/ra_12214_2025.html — RA 12214, section 8 amending NIRC section 32(A)(1)

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