Senior High School

FUNDAMENTALS OF ACCOUNTANCY,
BUSINESS AND MANAGEMENT 2
QUARTER 2: Module 5
Income and Business Taxation

Department of Education ● Republic of the Philippines

i
Fundamentals of Accountancy, Business and Management 2
Senior High School
Alternative Delivery Mode
First Edition, 2020

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Introductory Message

Dear Teachers and Learners! The writer welcomes you all to this
Fundamentals of Accountancy, Business and Management 2 Modules. This material
tries to bring you with the preparation and analysis of financial statements of a
service business and merchandising business using horizontal and vertical analyses
and financial ratios. Knowledge and skills in the analysis of financial statements will
aid the future entrepreneurs in making sound economic decisions.
As your partner in learning, I hope that you will not miss out every detail that
the writer would like you to learn in this material. Do enjoy as there are challenging
and interesting activities inside this learning modules. Congratulations in advance for
this will make you the master of your own learning.
Ops! you wait for a while, for an easy use of this material take note of some
few reminders
1. Take your time to read every detail that this module contains.
2. This material contains Module 5 and each of which is provided with
activities/tests that will surely lead you to learn.
3. Here are the Icons used as your guide in every part of the lesson.

Icons of this Module

This part contains learning objectives
What I Need to
that are set for you to learn as you go
Know along the module.
This is an assessment as to your level
of knowledge to the subject matter at
What I know hand, meant specifically to gauge prior
related knowledge.
This part connects previous lesson with
What’s In that of the current one.

This is an introduction of the new lesson

What’s New through various activities before it will
be presented to you
This is a discussion of the activities as a
What is It way to deepen your discovery and
understanding of the concept.
This is a follow-up activity that is
What’s More intended for you to practice further in
order to master the competencies.
This activity is designed to process
What I Have
what you have learned from the lesson
Learned

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 This is a task that is designed to
showcase your skills and knowledge
What I can do gained, and applied into real-life
concerns and situations.

4. Please do follow the directions given per activity so your experience to the use
of this material will be meaningful and fruitful.
5. Answer all the tests in this material.
6. As a courtesy to the future users, PLEASE DO NOT WRITE ANYTHING ON
ANY PART OF THIS MODULE. Write your answer/s on a separate sheet of
paper, notebook, workbook or whichever is specified by your facilitator

Special Reminders for you learners;

1. Answer every activity intelligently and diligently.
2. Write your answer as directed by your facilitator.
3. Feel free to approach or communicate your teacher/facilitator whenever you
need help.
4. Don’t forget to put a smiley face if you finish the activity within the allotted
time.

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 Table of Contents

Page
What This Module is About…………………………………………………..
Icons of this Module…………………………………………………………..

Module 5 Income and Business Taxation

Activity
1.5.1 Identify Me Right!
1.5.2 Compute Me Right!
1.5.3 I Can Do It!
1.5.4 Choose Me Right

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 5 Income and Business Taxation

What’s In

All earnings citizens of the Philippines, whether from compensation or

business, are required to pay taxes. Taxes are revenue of the government that funds
government expenditures and programs.
While this module will discuss taxes for both compensation income and
business income, businesses are assumed to be sole proprietorships. Partnerships
and corporations are not discussed here. Also, for high school accounting purposes,
there will be no discussion on the difference between financial accounting and tax
accounting. This topic will be for collegiate accounting discussions.

What’s New

To achieve the objectives of this module, you must keep in mind the following
terms:
 Taxation  Corporation
 Personal Exemption  Dependents
 Resident Alien  Income Tax
 Compensation Income  Business Tax
 Administrative Feasibility  Police Power
 Fiscal Adequacy  Eminent Domain
 Tax  Theoretical Justice
 Allowable Deduction  Inherent Power
 Non-resident Alien
 Passive Income

Directions: Read and analyze each item carefully. Encircle the letter of the best
answer.
1. Taxation is the process by which our government raises income to pay its
necessary _________.
a. Taxes
b. Expenses
c. Income
d. Assets

1
2. This is a kind of income received by employees working in different
companies. This is often in the form of salaries, bonuses, and allowances.
a. Police power
b. Passive income
c. Compensation income
d. Gross Income
3. The primary purpose of taxation is to provide the proper needed to run the
government.
a. Expense
b. Compensation
c. Assets
d. Funding
4. This is the power of the government to take private property, upon payment of
just compensation, to be used for a public purpose.
a. Police power
b. Eminent Domain
c. Administrative Feasibility
d. People Power
5. The power of the government to collect taxes that will be used to finance the
different projects needed by the people.
a. Police Power
b. Eminent Domain
c. Administrative Feasibility
d. People Power
6. These are amounts that can be deducted to certain individuals from their
gross income before it will be subjected to the income tax.
a. Income tax
b. Eminent Domain
c. Personal Exemption
d. Compensation
7. The burden of taxation should be proportionate to the ability of the taxpayer to
pay it. What principle is this?
a. Administrative Feasibility
b. Fiscal Adequacy
c. Theoretical Justice
d. None of the above
8. This is the power of our government to make laws that will promote public
health, morals, safety, and welfare of the people.
a. Police power
b. Eminent Domain
c. Administrative Feasibility
d. People Power

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 9. He or she is a citizen of a foreign country but resides here in the Philippines
during the taxable year.
a. Resident Alien
b. Non-resident Alien
10. He or she is a citizen of a foreign country and does not reside here in the
Philippines.
a. Resident alien
b. Non-resident alien

What Is It

It is often quoted that there are only two permanent things in this world,
change and taxes. Paying taxes is one of the basic responsibilities of every
individual. In this lesson, you will be get a bird’s eye view on one of the important
powers of our government.
According to Benjamin Franklin, nothing is certain in this world except death
and taxes. Just like death, we can’t avoid paying taxes. For example, in buying your
daily necessities, you are already paying taxes in the form of value added tax. If you
are an employee, you have to pay your withholding taxes. If you own a business, you
will have to pay your income taxes.

Principles of Taxation
 Governing tax law in the Philippines is the National Internal Revenue
Code of 1997. The Bureau of Internal Revenue (BIR) is the primary
implementing agency of this law.
 Taxation is the process by which the government collects revenue in
order to pay for its expenses.
 Income tax is defined as the tax on the net income or the entire income
realized in one taxable year.
 Who are required to pay income tax in the Philippines? (Section 23 of
the National Internal Revenue Code [NIRC] of 1997).
o A citizen of the Philippines, living in the Philippines, is taxable on
all income earned inside and outside the Philippines;
o A non-resident citizen is taxable only on income earned in the
Philippines;
o An OFW is taxable only on income earned in the Philippines.
o A foreigner living in the Philippines is taxable only on income
earned in the Philippines.
o A domestic corporation is taxable on all income derived from
sources inside and outside the Philippines; and

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 o A foreign corporation is taxable only on the income derived
inside the Philippines.

List of sources of gross income: (NIRC 1997 Chapter 6 Section 32 A)

 Compensation for services in whatever form paid, including, but not limited to
fees, salaries, wages, commissions, and similar items;
 Gross income derived from the conduct of trade or business or the exercise
of a profession;
 Gains derived from dealings in property; (Note: subject to 6% capital gains
tax for individuals and for corporation if land and building is not used in
business) • Interests; (Note: generally subject to 20% final withholding tax)
 Rents;
 Royalties; (Note: generally subject to 20% final withholding tax,10% if from
books and literary works)
 Dividends; (Note: generally subject to 10% final withholding tax for
individuals, tax exempt for corporation)
 Annuities;
 Prizes and winnings; (Note: generally subject to 20% final withholding tax,
except those that are tax exempt based on specific criteria in the law)
 Pensions; and
 Partner's distributive share from the net income of the general professional
partnership.

Compensation Income
 Employed individuals that earn compensation income pay their income taxes
monthly. Employers withhold the income tax of their employees from their
monthly gross income and remit these sums to the BIR.
 Philippine individual income tax is progressive. The tax rate increases as the
tax base increases which means that tax payers with more capacity to pay will
pay more taxes.
 All individual taxpayers are granted a personal exemption of P 50,000.
Additional exemptions of ₱ 25,000 are given for each qualified dependent but
only up to four dependents. For husband and wives with children, only one
spouse can claim the additional exemption. The husband is deemed head of
the family and will claim the deduction unless he explicitly waves his right in
favor of his wife.
 The following are the qualifications before a child may be considered a
dependent for tax purposes:
a. Must be a legitimate, illegitimate, or legally adopted child of the
taxpayer
b. Must be chiefly dependent upon the taxpayer and still living with
them
c. Must not more than 21 years old, unmarried, and is not gainfully
employed; and
d. Although more than 21 years old, is in capable of self-support
because of mental or physical defects.
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  To summarize the allowable deductions for every individual:
Individual Basic Personal Additional Personal
Exemption Exemption
Resident Citizen Allowed Allowed
Non-resident Citizen Allowed Allowed
Resident Alien Allowed Allowed
NRA-ETB with reprocity Allowed Not Allowed
NRA-ETB without Not Allowed Not Allowed
reprocity
NRA-NETB Not Allowed Not Allowed

 Withholding income tax for employees:

Employers are required by law to withhold income tax dues from their
employees’ salary.
It is implemented because employees might not have sufficient cash to
pay for their income tax dues if aggregated to a one time annual
payment.
The withholding tax deduction is computed based on the employee’s
gross compensation (net of mandatory contributions to SSS or GSIS,
Philhealth and Pag-ibig Fund), tax status, timing of compensation
payments and using the published BIR withholding tax table.
 Income tax is computed at the end of the year based on all
compensation income derived during the year.
Taxable income is computed after deducting personal and
additional exemptions.
Applicable tax rate is applied on the taxable income to get the
tax due.
The total income tax withheld by the employer is deducted from
the tax due to get remaining tax liability by the employee.
 Taxpayers who derive their income solely from compensation are
required to file BIR Form 1700 as their income tax returns. However, to
give relief to these taxpayers, the employee may present BIR Form
2316 as their income tax return. BIR Form 2316 is a statement issued
by the employer and signed by the employee but not filed with the BIR.
This is referred to as substituted filing.

Business Income
 The tax payments of a business organized as a sole proprietorship are made
in the name of its owner. The owner is considered an individual taxpayer who
derived income from business. He is required to file BIR Form 1701.
 Businesses may settle their income tax liabilities and submit their income tax
returns (tax form) to the government three months and fifteen days from the
close of the year. For a business that follows a calendar year, the date of
settlement is April 15.
Some businesses pay income tax on a quarterly basis based on their
quarter-end income. Quarterly payments are due sixty days following
the close of the first three quarters of the year.
When the tax due is in excess of ₱ 2,000, the individual taxpayer may
elect to pay the tax in two equal installments. The first installment shall
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 be paid at the time the return is filed and the second installment is paid
on or before July 15 following the close of the calendar year.

 Two approaches for the computation of income tax for the business:
Itemized deduction. Use the itemized expenses in the income
statement. The business should have a complete set of accounting
books and supporting receipts for the deductions that were itemized on
the tax form.
Optional standard deduction scheme. Deductions are up to a maximum
of 40% of “gross receipts”. “Gross receipts” is equal to net sales plus
other taxable income. This means that the business taxable income is
equivalent to 60% of gross receipts.

 “Mixed Income Earner” is a compensation-earner who at the same time is

engaged in business or practice of profession. A taxpayer deriving mixed
income will also use BIR Form 1701.

Taxable Income and Tax Due

A. Compensation Income:
Gross compensation (salary and other bonuses)
Less: Statutory contributions (SSS or GSIS, PhilHealth and Pag-ibig Fund)
Gross compensation, net of statutory payments
Less: 13th month pay and other bonuses that are exempted from income tax
= Gross taxable compensation income
Less: Personal (P 50,000 per tax payer) and additional deductions (P 25,000
per qualified dependent, max of 4)__________________________________
= Net taxable compensation income

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Example:
Juan Dela Cruz generated annual compensation income of P615,000. Statutory
payments are as follows: SSS – P 6,975.60; Philhealth - P 5,250; Pag-ibig
Contribution – P 1,200. Total: P 13,425.60 Tax exempt 13th month pay and other
bonuses – P 50,000. (Note: Maximum tax exempt 13th month and other bonuses is
P 82,000 per Revenue Regulation 3-2015).

Gross compensation (salary and other bonuses) P 615,000.00

Less: Statutory contributions (SSS or GSIS,
Philhealth and Pag-ibig Fund) 13,425.60

Less: Tax exempt 13th month bonus 60,000.00

Gross taxable compensation income P 541,574.40

Scenario 1: Juan Dela Cruz is single with no qualified dependent

Gross taxable compensation income P 541,574.40

Less: Personal deduction 50,000.00

Net taxable compensation income 491,574.40

From tax table, tax due for P491,574.40 is computed as follows:

P50,000 + 30% of the excess over P 250,000
P 50,000 + 30% (P491,574.40 - P250,000) = P122,472.32
(Note: This is not the tax payable by the individual. Compare this with the amount
that the employer withheld. Any difference is the tax liability payable on April 15.
Generally, if the employer correctly withheld during the year and there are no
changes in the tax status and tax base during the year, the amount withheld will be
equal to the tax due. However, there will be a difference if there are changes in the
taxability of the tax payer (single to married, changes in number of qualified
dependents) and change in tax base (i.e. increase in salary)

Scenario 2: Juan Dela Cruz is married with 3 qualified dependents

Gross taxable compensation income P 541,574.40
Less: Personal deduction 50,000.00
Less: Additional deduction (P25,000.00 x 3) 75,000.00

Net taxable compensation income 416,574.40

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From tax table, tax due for P416,574.40 is computed as follows:
P 50,000 + 30% of the excess over P 250,000
P 50,000 + 30% (P416,574.40 - P 250,000) = P99,972.32

What if the employer withheld a total of P95,000? Then on April 15 on the

subsequent year, the employee will pay an additional P4,972.32. But this does not
happen often. Normally, the employers compute for the annual tax due based on the
actual gross compensation income at the end of the year. Any additional tax
payment may be deducted from the December compensation.

Business Income:
Total revenues (Sales, Professional Fee, etc)
Less: Total expenses (Cost of Goods Sold, Operating Expenses)
Taxable income from business
Less: Personal ( P 50,000 per tax payer) and additional deductions (P 25,000 per
qualified dependent, max of 4)___________________________________________
=Net taxable income

Example:
Juan Dela Cruz is the owner-manager of JDC Trading Company. Total Sales
generated during the year amounted to P 1,230,000. Cost of goods sold is P
492,000 and total operating expenses is P 184,500. The company opted for itemized
deduction.

Sales P 1,230,000.00

Less: Cost of goods sold 492,000.00

Gross profit 738,000.00

Less: Operating expenses 184,500.00

Taxable income from business or profession P 553,500.00

Scenario 1: Juan Dela Cruz is single with no qualified dependent

Gross taxable compensation income P 0

Less: Personal deduction 50,000.00

Net taxable compensation income P (50,000.00)

Taxable income from business or profession P 553,500.00

Total taxable income 503,500.00

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From tax table, tax due for P503,500 is computed as follows:
P 125,000 + 32% of the excess over P 500,000
P 125,000 + 32% (P 503,500 - P500,000) = P 126,120

Is this the amount payable to the BIR on April 15? Not exactly. If during the
year, some of JDC’s issued creditable income tax withheld (meaning the
clients remitted the withheld amount to the BIR), then the amount withheld
maybe deducted from P 126,120. Creditable income tax withheld is basically
prepaid income tax.
The remaining liability (after deducting creditable tax withheld), if greater than
P 2,000, may be paid in installment – half on April 15 and the other half on
July 15.

Scenario 2: Juan Dela Cruz is single with 1 qualified dependent; JDC received
creditable income tax withheld from its customers at P 27,655.

Gross taxable compensation income P 0

Less: Personal deduction 50,000.00

Less: Additional deduction 25,000.00

Net taxable compensation income P (75,000.00)

Taxable income from business or profession 553,500.00

Total taxable income P 478,500.00

From tax table, tax due for P 478,500 is computed as follows:

P 50,000 + 30% of the excess over P 250,000
P 50,000 + 30% (P478,500 - P 250,000) = P118,550
P 118,550 - P27,655 = P90,895 (Note: Liability to the BIR. If paid in installment, Juan
Dela Cruz will pay P 45,447.50 each on April 15 and July 15).

Mixed Income - taxpayer earns both compensation and business income.

Example:
Juan Dela Cruz, a married man with two qualified dependents, generated income
from the following sources:
Compensation income:
a. Annual compensation income generated was P 555,000.
b. Statutory payments are as follows: SSS – P 6,975.60; Philhealth -
P5,250; Pag-ibig Contribution – P 1,200. Total: P 13,425.60
c. Tax exempt 13th month pay and other bonuses – P60,000.
d. Employer withheld P 89,471.16

Professional income:
a. Consultancy services earned P 1,230,000. Clients withheld P 61,500
and provided creditable income tax withheld tax return.
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 b. He has no record of the receipts of his expenses. He opted for
standardized deductions.

Compensation income

Gross compensation (salary and other bonuses) P 555,000.00

Less: Statutory contributions( SSS or GSIS,
Philhealth and Pag-ibig Fund) 13,425.60

Less: Tax exempt 13th month bonus 60,000.00

Gross compensation income P 481,574.40

Less: Personal deduction 50,000.00

Less: Additional deduction (P25,000 x 2) 50,000.00

Net taxable compensation income P 381,574.40

Business Income

Revenue from consultancy services P 1,230,000.00

Less: 40% standard deductions 492,000.00

Taxable income from business or profession P 738,000.00

Combined
Taxable income from business or profession P 738,000.00
Net taxable compensation income 381,574.40

Total taxable income P 1,119,574.40

From tax table, tax due for P1,119,574.40 is computed as follows:

P 125,000 + 32% of the excess over P 500,000
P 125,000 + 32% (P1,119,574.40 - P500,000) = P323,263.81

Tax due P 323,263.81

Less: Income tax withheld by employer 89,471.16
Less: Creditable income tax withheld by clients 61,500.00

Net tax payable P 172,292.65

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 What’s More

Activity 5.1 Identify Me Right!

Directions: Write the word “true” if the statement is correct and “false” if it is incorrect.
Write the answer in the space provided before each number.

___________1. Resident citizen is a citizen of foreign country and does not reside
here in the Philippines.
___________2. Resident alien is a citizen of foreign country and does not reside
here in the Philippines.
___________3. Specific tax is an excise tax imposed and based on weight or
volume capacity or any other physical chapter of measurement.
___________4. Ad valorem tax is an excise tax imposed and based on selling price
or other specified value of the goods.
___________5. Value-added tax is a tax on the value added to the purchase price or
cost in the sale or lease of goods, property or services in the course
of the trade or business.
___________6. Income taxes are imposed upon onerous transfers such as sale,
barter or exchange.
___________7. A non-resident alien individual is considered to be engaged in trade
or business if he shall go here in the Philippines and stay here for a
total period of more than 180 days during the calendar year.
___________8. OFWs are taxable only on their income arising from the sources
within the Philippines.
___________9. Business taxation is the imposition of taxes on the income of
individuals or corporations.
___________10. This is the power of the government to take private property, upon
payment of just compensation, to be used for a public purpose.

What I have Learned

Activity 5.2 Compute Me Right!

1. Jacqueline Cruz generated annual compensation income of ₱ 455,000, net of

statutory payments. Tax exempt 13th month pay and other bonuses – ₱ 30,000.
Determine the tax due of Jacqueline Cruz based on the following possible tax status
of Jacqueline:
a. Jacqueline is single with no dependent.

b. Jacqueline is single with one qualified dependent.

c. Jacqueline is married with one qualified dependent.

d. Jacqueline is married with three qualified dependents.

e. Jacqueline is married with five dependents.

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2. Jack Cruz is a project consultant. Total project fees earned during the year
amounted to P853,000. Jack opted to use the optional standard deduction of 40%.
Determine the tax due of Jack Cruz based on the following possible tax status of
Jack:
a. Jack is single with no dependent.
b. Jack is married with one qualified dependent.
c. Jack is married with three qualified dependents.

What I can Do

Activity 5.3 I Can Do It!

Juana Dela Cruz owns a trading business. Sales for the year amounted to P
1,765,000. Expenses are given in the table below:

Beginning inventory P 123,000 Purchases P 655,000

Rental 62,000 Ending ineventory 144,000
Representation 12,500 Depreciation 26,000
Communication, light and
water 52,000 Transportation 20,000
Office supplies 15,000 Bad debt expense 5,500

Determine the tax due of Juana Dela Cruz based on the following possible tax status
of Jack:
a. Juana is married with two qualified dependents.
b. Juana is single with three qualified dependents.

Activity 5.4 Choose Me Right!

Direction: Encircle the letter of the best answer.
1. This is the process by which our government, through our lawmakers, raises
income to pay its necessary expenses.
a. Tax
b. Taxing
c. Taxation
d. Taxable

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2. This is the power of the government to take private property, upon payment of
just compensation, to be used for a public purpose.
a. Police Power
b. Administrative Feasibility
c. Theoretical
d. Eminent Domain

3. He or she is a citizen of another country and does not reside here in the
Philippines.
a. Resident Citizen
b. Non-resident Citizen
c. Resident Alien
d. Non-resident Alien

4. He or she is a Filipino citizen living in the Philippines.

a. Resident Citizen
b. Non-resident
c. Resident Alien
d. Non-resident Alien

5. This is the income generated by entrepreneurs (business)or by different

professionals like lawyers, doctors, and accountants (professional income).
a. Compensation Income
b. Business or professional income
c. Passive income
d. Administrative feasibility

6. Jonathan is married and a non-resident citizen with one qualified child. How
much is his total exemptions?
a. 0
b. 25,000
c. 50,000
d. 75,000

7. This is the income received by employees working for different companies.

This is usually in the form of salaries, bonuses, allowances.
a. Police Power
b. Passive Income
c. Administrative Income
d. Compensation Income

33
8. The power of the government to collect taxes that will be used to finance the
different projects needed by the people.
a. Taxation Power
b. Theoretical Justice
c. Fiscal Adequacy
d. Police Power

9. He or she is a citizen of another country but resides here in the Philippines

during the taxable year.
a. Resident Citizen
b. Non-resident
c. Resident Alien
d. Non-resident Alien

10. He or she is a citizen of another country and does not reside here in the
Philippines.
a. Resident Citizen
b. Non-resident
c. Resident Alien
d. Non-resident Alien

11. Ms. Joan is a widow and a resident alien. How much is her additional
personal exemption?
a. 0
b. 25,000
c. 75,000
d. 50,000

12. Ms. Mikka is legally separated and a NRA-ETB. Her country is giving a
₱33,000 personal exemption to Filipinos. How much is her total personal
exemption?
a. 0
b. 25,000
c. 33,000
d. 50,000

13. Mr. Acer is an NRA-NETB, single, and has four dependent children. How
much is his total personal exemption?
a. 0
b. 150,000
c. 50,000
d. 125,000

34
14. Mr. Blaze, a resident citizen permanently living in Manila, supports his wife
and minor daughter who are now permanently residing in Japan. How much is
his total basic personal exemption?
a. 0
b. 75,000
c. 50,000
d. 100,000

15. Ms. Joanna, a resident citizen, supports her stepfather and three
stepbrothers. How much is her total personal exemption?
a. 0
b. 50,000
c. 125,000
d. 200,000

16. Mr. Juan is a resident citizen with two legally adopted and three naturally
adopted children. How much is his exemption?
a. 0
b. 50,000
c. 100,000
d. 75,000

17. Mr. JM is a resident citizen and has two children at the start of the year.
During the year, the eldest child married, the second child died in an accident,
and his wife gave birth to their third child. How much is his total exemption?
a. 50,000
b. 75,000
c. 100,000
d. 125,000

18-20. Mr. John is a NRA-ETB with no reciprocity, married with three dependent
children who has the following income and expenses during the year (3
points):

Compensation Income, Philippines 400,000

Compensation Income, Britain 350,000
Business Income, Philippines 900,000
Business Income, Japan 100,000
Business Expenses, Philippines 266,000
Business Expenses, Japan 37,000

35
What is the income tax payable by Mr. John?
a. 388,040
b. 255,880
c. 295,880
d. 279,880

36
Lesson 5 Answer key

What’s New Activity 5.1 Identify Me Right!

1. B 1. False
2. C 2. False
3. D 3. True
4. B 4. True
5. C 5. True
6. C 6. True
7. C 7. True
8. A 8. True
9. A 9. False
10. B 10. True

Activity 5.2 Compute ME Right!

1.

37
3.

5.4 Choose Me Right

1. C
2. D
3. D
4. A
5. B
6. D
7. D
8. A
9. C
10. D
11. A
12. C
13. A
14. C
15. B
16. C
17. D
18. C

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 REFERENCES

(Beticon, Domingo, & Yabut, Fundamentals of Accountancy, Business and

Management 2, 2016)

(Robles & Empleo,Intermediate Accounting based on PFRS/ IFRS, 2010)

(Commission on Higher Education, Teaching Guide For Senior High School

Fundamentals Of Accountancy, Business, And Management 2, 2016)

(https://pngio.com/images/png-a1192276.html, n.d.)

(https://www.freepik.com/premium-photo/top-view-business-paper-graph-wooden-
table-with-calculator_6382493.htm, n.d.)

(https://quizizz.com/admin/quiz/5c45577617a592001a8b8f51/basic-documents-and-
transactions-to-bank-deposits, n.d.)

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