24. Case 1: Jose, a CPA, had signed a legally enforceable agreement with his wife, Ethel, that the earnings from the exercise of his profession would be shared equally between them for purposes of computing the income to be reported in their respective individual income tax return. Is the agreement valid?

Case 2: Jose advised his son, Peter that the rent i8ncome on the dormitory owned by Jose will accrue to the latter. Peter collected the income and reported it in his own return. Were the actions taken by Jose and Peter valid?

Case 1 Case 2

A Yes No

B Yes Yes

C No Yes

D No No