1. FOR THE PURPOSE OF TAXATION WHAT ARE INCLUDED AS PART OF GROSS INCOME? EXPLAIN EACH

2. EXPLAIN THE DIFFERENCE BETWEEN THE COMPUTATION OF INCOME TAX FOR INDIVIDUAL BEFORE AND AFTER THE IMPLEMENTATION OF TRAIN LAW

3. WHEN IS THE EFFECTIVITY OF CREATE OF LAW? WHAT IS THE DIFFER

ENCE BETWEEN THE COMPUTATION OF CORPORATE INCOME TAX BEFORE AND AFTER THE IMPLEMENTATION OF CREATE LAW/

4. WHAT ARE THE DIFFERENCES BETWEEN CHOOSING 8 PERCENT INCOME TAX BASE ON GROSS INCOME AND THE USUAL REGULAR COMPUTATION OF INCOME TAX DUE BASE ON THE BRACKET?

5. WHAT IS OPTIONAL STANDARD DEDUCTION AND WHAT IS THE DIFFERENCE OF IT FROM REGULAR ALLOWABLE ITEMIZED DEDUCTION AND SPECIAL ALLOWABLE ITEMIZED DEDUCTION?

6. LEYMAR GANDA IS A DOCTOR SHE IS EARNING LESS THAN 3 MILLION PESOS 2.4 MILLION TO BE EXACT HER ACTUAL NECESSARY AND LEGITIMATE EXPENSE AMOUNTED TO 1.5 MILLION. WHAT WILL YOU SUGGEST THAT SHE OPTS TO PAY? A. OSD? B. ITEMIZED? C. 8 PERCENT?