Department of Accountancy and Taxation

COLLEGE OF ARTS AND SCIENCES

San Beda University
Manila

FINAL DEPARTMENTAL EXAMINATION

SUBJECT CODE/ TITLE: TXINCME -Philippine Tax System

Instructions:
1. Answer these problems on a separate paper by your own handwriting.
2. Provide solutions and double rule your final answers. No solution, no credit.
3. Take a picture of your answers and send them individually to my Messenger account.

1. Through the information given by Albert Rivers, a Canadian rock star promoting an upcoming concert
in the Philippines, the BIR was able to collect/recover unpaid taxes of a Chinese Tax evader amounting
to P1,400,000. How much is Albert entitled to receive as a reward, net of tax?
a. P900,000
b. P126,000
c. P1,260,000
d. P0

For Numbers 2-5:

Polka Cilla is a rank and file employee in an Advertising Firm in Makati. In the year 2019, he had the following
compensation record:
Basic Pay P500,000.00
Overtime Pay 200,000.00
13th Month & Other Benefits:
13th Month 20,000.00
14th Month 20,000.00
15th Month 20,000.00
Christmas Bonus 10,000.00
Creditable Withholding Tax 156,000.00
De Minimis Benefits:
Christmas and Anniversary Gifts 3,000.00
Laundry Allowance 2,600.00
Employee Achievement Award in kind 12,000.00
Actual Medical Assistance 5,000.00
Rice Subsidy 22,000.00
Medical Cash Allowance To Employee Dependents 2,500.00
Uniform and Clothing Allowance 5,000.00
Productivity Incentive Allowance 18,000.00
Persons Living with and Dependent on the Taxpayer :
3 Illegitimate Children (Aged 22, 23 and 25)
1 Minor Adopted Child
Senior Citizen Father
1 Foster Child
2. Polka’s Total Compensation Income is:
a. P699,000
b. P700,000
c. P650,000
d. P649,000
3. Polka’s Taxable De Minimis Benefits amount to:
a. P11,200
b. P10,000
c. P3,800
d. none

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4. Polka’s Tax Payable/(Refundable) for the year is:
a. P105,000
b. (P51,000)
c. P26,920
d. P56,000
5. Polka’s Total De Minimis Benefits exempt by law:
a. P70,100
b. P80,100
c. P60,100
d. P0

6. Benjamin, a resident Filipino, married but legally separated, supporting his mother, has the following
transactions for the year 2020:
Sales P2, 000,000
Cost of Sales 1, 150,000
Operating expenses 560, 000
Interest income from BDO 10, 000
Interest Expense 20, 000
Other transactions:
Sale of office equipment held for 5 years:
Selling price 100, 000
Cost 120, 000
Accumulated depreciation 80, 000
Sale of family van-bus held for 3 years:
Selling price 300, 000
Cost 210, 000
Sale of family car held for 18 months:
Selling price 480, 000
Cost 500, 000
Taxpayer will report a taxable income of:
a. P365,000
b. P385,000
c. P368,300
d. P318,300

7. PP & Co., a partnership engaged in the practice of accounting, had a gross income of 220,000 and
expenses of 85,000 during the year 2020:
Ping Pong
Share in P/L ration 75% 25%
Income from other business 125,000 325,000
Expenses 80,000 190,000
Status Married Unmarried
Dependent children none 2
What is the income tax payable of the partnership?
a. Zero c.75,000
b. 40,500 d. 47,250
8. Using the preceding number, what is the taxable income of Ping and Pong?
a. P96,250; P68,750 c. P146,250; P118,750
b. P146,250; P168,750 d. P96,250; P168,750
9. Following the preceding problem, how much is the income tax payable/(refundable) of Ping and Pong?
a. P18,100; P28,700 c. (P10,125): (P3,375)
b. 0;0 d. P29,250;P P33,750
10. Assuming, PP & Co., a partnership engaged in the practice of law, had a gross income of 2,200,000 and
expenses of 200,000 during the year 2020:
Ping Pong
Share in P/L ration 50% 50%
Income from other business 125,000 325,000
Expenses 80,000 190,000
Status Married Unmarried
Dependent children none 2

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How much is the income tax payable/refundable of Ping and Pong?
a. P203,500; P230,500 c. P230,500;P203,500
b. P53,500; P80,500 d. P80,500; P53,500

11. Using No. 12, assuming PP & Co. is a general partnership, how much is the taxable income of Ping and
Pong?
a. P45,000; P135,000 c. P1,045,000; P1,135,000
b. (P5,000); P35,000 d. P995,000; P1,035,000

12. Usang Boltahe, a national athlete, received the following during 2020:
Ramon Magsaysay award P 50,000.00
Athlete of the year award 100,000.00
Prize – Jollibee raffle 5,000.00
Prize for winning the silver Olympic medal 500,000.00
Cash award from Mr. Alfred Lim 250,000.00
Cash from Nissan as a gift 1,000,000.00
Winnings – Philippine sweepstake 100,000.00
Gambling winnings 5,000,000.00
The total winnings/awards and prizes not subject to income tax is:
a. P2,505,000
b. P2,000,000
c. P1,905,000
d. P1,900,000

For Numbers 13 to 16

PolVi Cecilia, a Non-resident Citizen, received the following from sources within the Philippines during the year
2020:

Interest income from PNBank savings account, net of final tax P 16,000.00
Interest income from a Tax-free Covenant Bond 8,000.00
Interest income on long-term deposits, pre-terminated on the 4th year 12,000.00
Interest Income from Notes Receivable 23,000.00
Interest Income from FCDU maintained with PNBank (P45:$1) $ 5,000.00
Capital gains on sale of shares of stock, not listed or traded through a local stock exchange P 180,000.00
Capital loss on sale of shares of stock, not listed or traded through a local stock exchange 60,000.00
Capital gains on sale of shares of stock, not listed or traded through a local stock exchange 120,000.00
Sold residential lot located in the Philippines, held as capital asset (Appraised value by an P 580,000.00
Independent Appraiser – P800,000.00; Assessed Value – P700,000.00; Zonal value –
P680,000.00). The proceeds were used to build his principal residence amounting to
P1,000,000.00.
Dividends received from a Resident Foreign Corporation 8,000.00
Dividends received from a Domestic Corporation 6,000.00
Royalties from musical composition 14,000.00
Winnings (25% of which came from PCSO winnings) 12,000.00
Prize received from Essay contest 1,500.00
Prize received from Bowling Tournament 10,000.00
Prize received from being an outstanding Resident of their barangay 20,000.00
Indemnity for Moral Damages from Libel suit filed 500,000.00
Appreciation in the value of his real property due to a road – widening project by the 300,000.00
Government
Separation pay received due to company retrenchment program 150,000.00
Rental Income from 4-door apartment inherited from his deceased Father 80,000.00
Income from Services rendered as a professional mortician 60,000.00
13. Final Tax withheld on Interest Income is:
a. P6,400
b. P8,800
c. P7,000
d. P12,340
14. At the end of the year, the sale of shares of stock will result in Annual:
a. Capital Gains Tax Refundable of P1,000

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b. Capital Gains Tax Payable of P1,000
c. Capital Gains Tax Payable of P9,000
d. Capital Gains Tax Refundable of P9,000
15. The Capital Gains Tax on the sale of real property is:
a. P0
b. P42,000
c. P48,000
d. P40,800
16. Total Final Tax Due on Dividends, Royalties, Winning and Prizes is:
a. P3,800
b. P5,800
c. P6,100
d. P5,200

17. The Aidsiah, Inc., an insurance company, had the following data for the taxable year 2022:

Sales P5,000,000
Cost of Goods Sold 2,000,000
General, Selling and Administrative Expenses 500,000
Interest Income/yield from trust funds 100,000
Rental Income (net of 5% withholding tax) 190,000
Dividend Income: From domestic corporation 60,000
From foreign corporation 50,000
Winnings from charity sweepstakes 1,000,000
Capital gains from sale of domestic share of stocks not traded in the PSE, sold 75,000
directly to buyer
Dividend declared and paid during the year 500,000
Retained earnings, beg. of the year (subjected to IAE tax last year) 1,000,000
Paid-up Capital, inclusive of Share Premium amounting to P300,000 800,000
Note: The board of directors approved a resolution reserving P1,500,000 of its net profit for the year for plant
expansion.
How much is the Improperly Accumulated Earnings Tax?
a. P142,875 c. P162,875
b. P62,875 d. none
18. A real estate investment trust (REIT) is a stock corporation established principally for the purpose of
owning income-generating real estate assets such as apartment buildings, office buildings, medical
facilities, hospitals, hotels, resorts, highways, warehouses, shopping centers, railroads, among others. It is
a type of investment instrument that provides a return to investors derived from rental income of the
underlying real estate asset. It has essential requirements to avail of the tax incentives. Which of the
following is NOT a requirement?
a. It must be registered with the SEC as a stock corporation with a minimum paid-up capital of P300
million.
b. It must be listed with an Exchange and, upon listing, have at least 1,000 Public shareholders each
owning at the minimum 500 shares and which, in the aggregate, own at least1/3 of the outstanding capital
stock of the REIT.
c. The independent directors in the REIT must be composed of at least one-third or two, whichever is
higher, of the board of directors.
d. A REIT must appoint an independent Fund Manager and Property Manager who must qualify under the
fit and proper rule.
19. Miss Darrelle Joe is a self-published author. She established a printing press and a marketing distribution
business for her books which sells wildly hot like chili-flavored pizza. She does not know anything about
taxation so she consulted you about what type of income tax she will pay.
What advice would you give her?
a. You are subject to regular tax not to final tax so file three quarterly income tax returns every 60 days
following the end of the first three quarters and file an annual consolidated income tax return on or before
April 15 of the following year.
b. You are subject to final tax on your book royalties. There is no need to file regular tax returns.
c. You should pay regular income tax on your net income and 10% final tax on your royalties from your
books to avoid hassle with the tax authorities.

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d. You are subject to regular tax. You shall file three quarterly income tax returns on or before April 15,
August 15, and November 15 respectively and file a consolidated annual income tax return on or before
April 15 of the following year.
20. San Miguel Corporation is a resident corporation having the following data in 2020:
Selling price, at fair market value, on a direct sale
to a buyer, of shares of stock of a domestic corporation,
not traded in the Philippine Stock Exchange, held as capital asset 3,500,000
Sales Discount 15,000
Expenses on sales 30,000
Cost of the shares of stock 1,850,000
Holding period of the asset 24 months
What is the capital gains tax?
a. 240,000 c. 155,500
b. 240,750 d. 160,000
21. Jalex Rosales, an entrepreneur, met an accident and was able to claim the following damages:
Actual damages for unrealized profit P100,000
Actual damages for lost products 200,000
Exemplary damages due to injuries 50,000
Moral damages due to injuries 50,000
Interest on nontaxable damages 20,000
Attorney’s fee 80,000
How much damages are taxable and not taxable?
Taxable Nontaxable
a. P380,000 P120,000
b. P300,000 P200,000
c. P200,000 P300,000
d. P120,000 P380,000

22. Ms. Vandish, a manager of Burn, Inc., received the following fringe benefits during the taxable year
2020:
Cash travel allowance ---------------------------------------------- P 34, 000
House and lot- ownership of real property is transferred to
Ms Vandish, (FMV, P544,000) cost ------------------------------ 476,000
Car-ownership was transferred to Ms. Vandish.
The car has a 10-year estimated useful life, but
already 1 year in use at date of transfer --------------------------- 680,000
The grossed-up monetary value of the fringe benefits would be
a. P 850,000 c. P 1,750,000
b. P 950,000 d. P 1,830,769

For questions 23 and 24, use the following information:

The following data pertains to a domestic corporation which was incorporated in 2010 but was registered
with the BIR on 2011:
2014 2015 2016 2017 2018 2019

Gross Income 1,000,000 1,800,000 2,200,000 2,600,000 3,000,000 3,500,000

Allowable 800,000 1,700,000 2,300,000 2,800,000 2,600,000 3,000,000

Deduction
23. What is the income tax payable in 2017?
a. P330,000 c. P300,000
b. P52,000 d. P0

24. What is the income tax payable in 2019?

a. P150,000 c. P12,000
b. P18,000 d. P24,000

For numbers 25-30, use the following data:

Wilchon, a resident citizen, has the following income for the year 2019:
Gross income from business of poultry (net of Cost of Sale: 200,000)..... P1,500,000
Gross income from business of piggery(net of Cost of Sale: 100,000)...... 900,000

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Dividend from domestic corporation...................................................... 10,000
Dividend from resident corporation...................................................... 50,000
Interest on bank deposit……… ………………………........................... 15,000
Monetary benefit from Deposit Substitute .............................................. 25,000
Sale of common shares held as capital asset from SMART, Inc, not
listed and traded thru Philippine Stock exchange:
Fair Market Value P 1,000,000
Selling Price 500,000
Acquisition Cost 200,000
Sale of common shares held as capital asset from
GLOBE, Inc, listed and traded thru Philippine
Stock exchange:
Fair Market Value P 2,000,000
Selling Price 1,000,000
Acquisition Cost 200,000
Sale of real property not used in trade or business
located in Tondo, Manila:
Assessed Value P 5,000,000
Zonal Value 6,000,000
Selling Price 4,000,000
Acquisition Cost 7,000,000
Sale of real property not used in trade or business
located in Kazakhstan:
Assessed Value P 500,000
Zonal Value 600,000
Selling Price 400,000
Acquisition Cost 350,000
Interest under Expanded Foreign Currency Deposit System 500,000
Won 1st prize: Montero Sport, in a raffle draw worth 3,000,000
Won winnings from Barangay Basketball League 11,000
Won winnings from Barangay Volleyball League 9,000
Interest from P1,000,000 individual trust funds
(Term: 5 years)......................................................................... 100,000
Royalties from cinematographic films………......................... 50,000
Interest from P3,000,000 investment management accounts
(Term: 5 years) After one year and one month, he pre-
terminated the investment account..................... 200,000
Business expenses from poultry business................................... 720,000
Business expenses from piggery business................................... 900,000
An amount paid out for betterments made to increase
the value of the land.................................................................... 80,000
Amount paid in restoring the real property located in
Tondo, Manila ............................................................................ 120,000
25. Assuming Wilchon signified in his first quarter return his intention to avail of the 8% preferential tax rate,
how much is his income tax due for the year 2019?
a.P224,720 c. P204,720
b.P200,720 d. P196,720
26. Assuming Wilchon failed to file his Quarterly Tax Return in the First Quarter, how much is his income
tax due and business tax, if any for the year 2019?
a. P156,700; P81,000 c. P231,700; P81,000
b. P246,700; P84,270 d. P231,700;P82,770
27. Assuming Wilchon is also employed in Meralco earning a total compensation income per annum of
P1,500,000, which of the following is correct?
a. Wilchon cannot avail of the 8% preferential tax rate because his total income from his business and
employment exceeds P3Million
b. Wilchon may avail of the 8% preferential tax rate for his entire income because it is provided for under
the TRAIN Law
c. Wilchon may avail of the 8% preferential tax rate on his income earned from business and other non-
operating income, but his compensation income shall be taxable by graduated income tax rates.

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d. Wilchon may avail of the 8% preferential tax rate on his income earned from business and other non-
operating income, but his compensation income shall be taxable by graduated income tax rates plus
3%OPT.
28. Using the facts stated above, but the businesses of Wilchon involves cockpits and cabarets, which of the
following is correct?
a. Wilchon may avail of the 8% preferential tax rate but without the benefit of the P250,000 exemption.
b. Wilchon may avail of the 8% preferential tax rate with the benefit of the P250,000 exemption
c. Wilchon’s business income is subject to graduated income tax
d. Wilchon may be imprisoned because of these illegal businesses
29. Assuming Wilchon, a purely self-employed income earner, signified in his first quarter return his
intention to avail of the OSD, how much is his income tax due?
a. P408,700 c. P107,250
b. P266,020 d. P318,700
30. Assuming that Wilson is a mixed income earner where he also earned a total compensation income of
P1,500,000, net of exclusions, and availed of the OSD for his business income from the start of the year
2019, how much is his total income tax due?
a. P658,700 c. P883,280
b. P606,020 d. P748,700

31. Mr. Panchito, a lawyer by profession, had the following income and donations during the year 2020:
Professional fees…………………………………….. P1,500,000
Expenses related to practice of profession………….. 400,000
Facilitation fees……………………………………… 200,000
Donations to government priority activities……………..100,000
Donations to pursuant to treaties………………………….30,000
Donations to accredited charitable institutions…………....50,000
Donations to the government for public purpose………….80,000
Donations to non-accredited charitable institutions……….60,000
Donations to a foreign charitable institution………………40,000
Donations to street beggars………………………………..50,000
How much is the total deductible contribution expense?
a. P290,000 c. P370,000
b. P270,000 d. P320,000
32. Burn Inc. leases its lot to Sta. Barbara for 15 years with an annual rental of P50,000. They have agreed
that Sta. Barbara shall construct a building thereon with a stipulation that at the end of the lease term, the
ownership of the building will go to Burn Inc. The building has a fair market value of P1,200,000 with an
estimated life of 20 years. On the 10th year of the lease, the building was destroyed by tornado. A part of
it was saved with an estimated amount of P40,000 and the same was covered by insurance amounting to
P100,000. How much is the loss on the building?
a. P160,000 c. P60,000
b. P40,000 d. P50,000
33. Alibaba Corp. is engaged in the business of bakery and providing parlor services with net sales and
revenue of P6,000,000 and P4,000,000, respectively. The actual entertainment, amusement and recreation
expenses for the taxable year totaled P100,000. For income tax purposes, how much is the total deductible
entertainment, amusement and recreation expenses for each business, respectively?
a. P60,000;P40,000 c. P60,000;P20,000
b. P30,000;P40,000 d. P50,000; P50,000
34. The running of the Statute of Limitations provided in Sections 203 and 222 of the NIRC on the making of
assessment and the beginning of distraint or levy a proceeding in court for collection, in respect of any
deficiency, shall be suspended on the following instances, EXCEPT:
a. taxpayer requests for a motion for reinvestigation which is granted by the Commissioner
b. taxpayer requests for a motion for reconsideration which is granted by the Commissioner
c. taxpayer cannot be located in the address given by him in the return filed upon which a tax is being
assessed or collected
d. when the warrant of distraint or levy is duly served upon the taxpayer
35. Statement 1: The Court of Tax Appeals has an exclusive original jurisdiction to review the inaction by the
Commissioner of Internal Revenue (CIR) in cases involving disputed assessments, refunds of internal
revenue taxes, fees or other charges, penalties in relations thereto, or other matters arising under the
National Internal Revenue Code or other laws administered by the Bureau of Internal Revenue.
Statement 2: Based on the preceding paragraph, the inaction of the CIR shall be deemed a denial.
a. Both statements are true
b. Both statements are false

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c. Only Statement 1 is true
d. Only Statement 2 is true
36. Statement 1: Pursuant to the life blood doctrine, as a rule, no court shall grant an injunction to restrain the
collection of any national revenue tax, fee or charge imposed by the NIRC.
Statement 2: The “No injunction rule” is subject to the exception that when the decision of the
Commissioner is pending appeal before the Court of Tax Appeals (CTA), the CTA may enjoin the
collection of taxes if such collection will jeopardize the interest of the government and/or the taxpayer
a. Both statements are true
b. Both statements are false
c. Only Statement 1 is true
d. Only Statement 2 is true
37. Statement 1: The taxpayers shall be informed in writing of the law and the facts on which the assessment
is made; otherwise, the assessment shall be void
Statement 2: If the protest is denied in whole or in part, or is not acted upon within one hundred eighty
(180) days from submission of documents, the taxpayer adversely affected by the decision or inaction
may appeal to the Court of Appeals within thirty (30) days from receipt of the said decision, or from the
lapse of one hundred eighty (180)-day period
a. Both statements are true
b. Both statements are false
c. Only Statement 1 is true
d. Only Statement 2 is true
38. Pre-assessment notice shall not be required in the following cases, EXCEPT:
a. When the finding for any deficiency tax is the result of mathematical error in the computation of the tax
as appearing on the face of the return
b. When a discrepancy has been determined between the tax withheld and the amount actually remitted by
the withholding agent
c. When a taxpayer who opted to claim a refund or tax credit of excess creditable withholding tax for a
taxable period was determined to have carried over and automatically applied the same amount claimed
against the estimated tax liabilities for the taxable quarter or quarters of the succeeding taxable year
d. When the income tax due on excisable articles has not been paid
39. Statement 1: The Court of Tax Appeals has an exclusive appellate jurisdiction to review decisions, orders
or resolutions of the Regional Trial Courts in local tax cases originally decided or resolved by them in the
exercise of their original or appellate jurisdiction
Statement 2: The Court of Appeals has an exclusive original jurisdiction to review Decisions of the
Commissioner of Customs in cases involving liability for customs duties, fees or other money charges,
seizure, detention or release of property affected, fines, forfeitures or other penalties in relation thereto, or
other matters arising under the Customs Law or other laws administered by the Bureau of Customs
a. Both statements are true
b. Both statements are false
c. Only Statement 1 is true
d. Only Statement 2 is true
40. Statement 1: For cases of financial incapacity, a minimum compromise rate equivalent to forty percent
(40%) of the basic assessed tax shall be allowed by the Commissioner
Statement 2: In case of reasonable doubt as to the validity of the claim against the taxpayer, a minimum
compromise rate equivalent to ten percent (10%) of the basic assessed tax shall be allowed by the
Commissioner
a. Both statements are true
b. Both statements are false
c. Only Statement 1 is true
d. Only Statement 2 is true
41. Statement 1: On March 15, 2019, Ping Guerrero filed an Income Tax Return which is due on April 15,
2019, with which the income declared is understated by 30% of the actual income he could have declared.
The BIR has 3 years from March 15, 2019 to assess Ping’s tax liability.
Statement 2: The taxpayer may file an administrative protest against an assessment within 30 days from
receipt of the assessment.
a. Both statements are true
b. Both statements are false
c. Only Statement 1 is true
d. Only Statement 2 is true
42. If there is showing that expenses have been incurred but the exact amount thereof cannot be ascertained
due to absence of documentary evidence, it is the duty of the BIR to make an estimate of deduction that

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TAX01-Philippine Tax System 2nd Semester, AY2021-2022
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may be allowable in computing the taxpayer’s taxable income, which estimate may be based on 50% of
the taxpayer’s claimed deduction. This is called
a. Cohan Rule c. Cojan Rule
b. Johan Rule d. Trojan Rule
43. Which of the following is not a fundamental principle of the Local Government Taxation?
a. Uniformity
b. Equitability
c. Collection of taxes is solely for the benefit of the national and local government
d. Progressive
44. A Province cannot impose the following, EXCEPT:
a. DST c. Taxes on premiums paid by way of reinsurance or retrocession
b. VAT d. RPT
45. Statement 1: Manufacturers, assemblers, contractors, producers, and exporters with factories, project
offices, plants, and plantations in the pursuit of their business shall allocate their sales in the their
principal office in which 70% will be taxable by the city/municipality where the principal office is
located, and 30% shall be taxable by the city/municipality where the factory, project office, plant, or
plantation is located
Statement 2: Light Rail Transit Authority is exempt from real property tax
a. Both statements are correct c. Only statement 1 is correct
b. Both statements are incorrect d. Only statement 2 is correct
46. Which is not a ground to suspend the running of prescription to assess a local tax?
a. The treasurer is legally prevented from making the assessment of collection
b. The taxpayer requests re-investigation and executes a waiver in writing before expiration of the period
within which to assess or collect
c. The taxpayer is out of the country or otherwise cannot be located
d. The taxpayer requests for reconsideration
47. Statement 1: The City Treasurer’s denial of protest of the taxpayer is appealable to Local Board of
Assessment Appeals within 30 days from receipt of denial.
Statement 2: Payment under protest is not a pre-requisite to make a protest in a local tax dispute.
a. Both statements are correct c. Only statement 1 is correct
b. Both statements are incorrect d. Only statement 2 is correct
48. Statement 1: If the assessment of basic RPT or any other tax levied is found to be ILLEGAL or
ERRONEOUS and the tax is reduced or adjusted, the taxpayer may file a petition for refund or credit for
taxes and interests with the City Assessors Office within 2 years from the date the taxpayer is entitled to
such reduction or adjustment.
Statement 2: In assailing the validity of RPT, deposit is jurisdictional and must be complied with only if
the real property is tax delinquent.
a. Both statements are correct c. Only statement 1 is correct
b. Both statements are incorrect d. Only statement 2 is correct
49. Statement 1: The Secretary of Finance has the authority to issue an injunction order if the collection of
taxes will jeopardize the interest of the taxpayer
Statement 2: An LGU can impose amusement taxes on cabarets.
a. Both statements are correct c. Only statement 1 is correct
b. Both statements are incorrect d. Only statement 2 is correct
50. The following entities retained their tax exemption privileges given by the Local Government Code.
Which of the following is not included?
a. Local Water District
b. Cooperatives.
c. Non-stock Non Profit Educational Institutions
d. Religious sectors

THAT IN ALL THINGS GOD MAY BE GLORIFIED