Practice question
Does a professional license automatically make every amount earned by its holder professional-practice income?
- Yes, including every gift
- Yes, including every deposit withdrawal
- Yes, including every inheritance
- No; the source and actual relationship must be identified
- Yes, regardless of the facts
Legal references
- RR 8-2018, Section 2: https://bir-cdn.bir.gov.ph/local/pdf/RR%20No.%208-2018.pdf
Answer this question in flashcards to review your response and continue practicing.