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Question 27 1 pts Bad debts expenses include Ouncollectible debts due to the taxpayer. O securities becoming worthless. Both a and b O Neither a norb D Question 28 1 pts Which is not a requisite of a deductible loss? a It must be sustained by the taxpayer in the current year. It must be reported to the BIR within 45 days from the occurrence of the loss. It must be compensated by insurance or indemnity contracts. It must pertain to a property connected to the trade, business or profession of the taxpayer. Question 29 1 pts Which is a correct statement? O Gains between related parties are exempt from income tax. Losses between related parties are deductible. Gains between related parties are taxable. All of the above Question 30 1 pts Who are not related parties for purposes of the NIRC? Fiduciary of trusts with the same grantor The trustee and the beneficiary of a trust Corporations under common control O A partner and the partnership