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Statement 1: The balance of Input Tax Deferred as of December 31, 2020 is PhP 545,000. Statement 2: The amount of Excess Input Tax Carried
Statement 1: The balance of Input Tax Deferred as of December 31, 2020 is PhP 545,000.
Statement 2: The amount of Excess Input Tax Carried Over to November 2020 is PhP 50,000.
Only the first statement is correct
Only the second statement is correct
Both statements are correct
Both statements are incorrect
None of the above
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald Hilton, David Platt
10th edition
78025664, 978-0078025662
