TAXATION

INSTRUCTIONS: Select the correct answer for each of the questions. Mark only one
answer for each item by shading the box corresponding to the letter of your
choice on the answer sheet provided. STRICTLY NO ERASURES ALLOWED. Use pencil no.
2 only.

1. Under absolute community of property, which of the following is a community

property?

a. Property inherited by the surviving spouse during the marriage

b. Property bought during the marriage using the salary of the decedent earned
before marriage
c. Personal belongings (e.g. clothes, shoes, etc.) bought during the marriage for
the exclusive use of the decedent
d. Jewelry inherited by the decedent during the marriage

2. Which of the following is not subject to the rule of reciprocity?

a. Shares in a Philippine domestic corporation owned by a nonresident alien

decedent
b. Investment in stock in a US corporation 80% of the business of which is in the
Philippines owned by a non-resident alien decedent
c. Investment in bonds in a US corporation that have acquired business situs in
the Philippines owned by a non-resident alien decedent
d. Share in a Philippine partnership owned by a nonresident alien decedent

3. Which of the following is not a remedy against indirect double taxation?

a. Vanishing deduction
b. Tax credit for foreign estate tax
c. Exemption from transfer tax of merger of usufruct in the owner of the naked
title
d. Transfer for public use

4. Properties acquired by gratuitous title during the marriage are generally

classified as:
I – Conjugal properties under conjugal partnership of gains
II – Community properties under absolute community of properties

a. Only I is correct;
b. Both I and II are correct
c. Only II is correct;
d. Both I and II are incorrect.

5. A resident decedent, single and head of family, left the following:

Personal properties, outside the Philippines P10,000,000
Real properties, Philippines (excluding family home valued at
P10,500,000) 12,000,000
Deductions claimed (including actual funeral expenses of
P200,000, and medical expenses of P600,000) 1,900,000

How much was the taxable net estate?

a. P31,400,000
c. P21,500,000
b. P26,500,000
d. P16,500,000

6. Bank Alpha deposited money with Bank Bebe which earns interest that was
subjected to the 20% final withholding tax. At the same time, Bank Alpha is
subject to the 5% gross receipts tax on its interest income on loan transactions
to customers. Which statement below incorrectly describes the transaction?

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a. There is double taxation because two taxes – income tax and gross receipts tax
are imposed on the interest income described above, and double taxation is
prohibited under the 1987 Constitution.
b. There is no double taxation because the first tax is income tax, while the
second is a business tax.
c. There is no double taxation because the income tax is on the interest income
of Bank Alpha on its deposits with Bank Bebe (passive income), while the gross
receipts tax is on the interest income received by Bank Alpha from loans to its
debtor-customers (active income).
d. Income tax on interest income of deposits of Bank A is a direct tax, while GRT
on interest income on loan transaction is an indirect tax.

7. Mac & Me Inc. was issued its certificate of incorporation on December 28,
2020. Noting that on the same day, the said corporation has been registered with
the Bureau of Internal Revenue and issued its Tax Identification Number (TIN). On
January 1, 2021, it had its first ever commercial transaction. Considering the
foregoing, it shall be required to compute and pay Minimum Corporate Income Tax
(MCIT), if higher than normal tax, beginning the taxable year:

a. 2021
b. 2022
c. 2023
d. 2024

8. The Secretary of Finance, upon recommendation of the Commissioner of Internal

Revenue, issued a Revenue Regulation using gross income as the tax base for
corporations doing business in the Philippines. Is the Revenue Regulation valid?

a. Yes, the Secretary of Finance has the power to issue rules and regulations.
b. Yes, gross income taxation over corporations is valid.
c. No, Secretary of Finance has virtually amended the NIRC.
d. No, only the Commissioner of the BIR has the authority to make revenue rules
and regulations.

9. Statement 1: Taxes are important because they are the lifeblood of the
government and so should be calculated without unnecessary hindrance.
Statement 2: The legislature, in adopting measures to implement our tax laws
wants to be assured that taxes are paid and collected without delay.

a. Only statement 1 is correct

b. Only statement 2 is correct
c. Both statements are correct
d. Both statements are incorrect

10. Raising revenue is the primary purpose of taxation, which of the following is
not one of the secondary purposes of taxation:

a. Reduction of social inequality

b. Encourage economic growth by granting incentives and exemptions
c. Promotion of general welfare
d. Protection of foreign interests

11. Renee Rentah owns an apartment building being leased to different tenants at
a monthly rental of P16,000. The aggregate annual rental is P1,300,000. For the
year 2021, Renee is not subject to

a. Value-added tax.
b. Income tax.
c. 1% non-VAT.
d. 1% non-VAT and income tax.

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12. For taxable year 2020. a husband and wife with five (5) qualified dependent
children shall be entitled to a maximum basic personal and additional exemptions
of

a. P 100,000
b. P200,000
c. 150,000
d. None

13. Which of the following statements is not true?

a. If a taxpayer is acquitted in a criminal violation of the Tax Code, this

acquittal does not exonerate him from his civil liability to pay the taxes.
b. A conviction for tax evasion is not a bar for collection of unpaid taxes.
c. A tax assessment is necessary to criminal prosecution for willful attempt to
defeat and evade payment of taxes.
d. Criminal proceedings under the Tax Code is now a mode of collection of
internal revenue taxes, fees and charges.

SITUATIONAL
Architecture Atelier In Corporation, with total assets of P120,000,000 including
the land valued at P20,000,000, registered with BIR in 2018. It has the following
data for the year
2023:

Gross receipts P5,000,000

Discounts given 500,000
Returns and allowances 650,000
Salaries of personnel directly involved in the supply of services 800,000
Fees of consultants directly involved in the supply of services 150,000
Rental of equipment directly used in the supply of services 170,000
Salaries of office personnel 420,000
Depreciation of office equipment 100,000
Other operating expenses (including P60,000 interest expense) 120,000
Interest income from bank deposit 50,000
Income tax paid for the first 3 quarters 100,000
Unexpired excess MCIT, previous year 50,000

14. How much is the total operating expenses?

a. P640,000
b. P580,000
c. P630,000
d. P520,000

15. How much is the minimum corporate income tax?

a. P100,000
b. P54,600
c. P 50,000
d. P27,300

16. How much is the tax payable?

a. P442,000
b. P342,000
c. P392,000
d. P292,000

17. Under this system, taxes withheld on certain income payments are intended to
equal or at least approximate the tax due of the payee on said income.

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a. Creditable withholding tax
b. Global tax system
c. Final withholding tax
d. Schedular tax system

18. An amateur boxer was sent by Amateur Boxers Association of the Philippines
(ABAP)to compete in the Asian Games. He won gold medal and was given a prize
of P1,000,000 by a domestic corporation. For income tax purposes, what will be
the consequences of the prize given?
I – The prize received by the amateur boxer is not subject to Philippines
income tax.
II – The domestic corporation can deduct the prize from its gross income.

a. Both I and II are correct

b. Only I is correct
c. Both I and II are incorrect
d. Only II is correct

19. In accomplishing BIR Form 2316 (Certificate of Compensation Payment/Tax

Withheld) of an employee, which of the following is not included in the Non-
Taxable/Exempt Compensation Income?

a. 13th month pay and other benefits.

b. Employee’s share contribution to Social Security System.
c. Employee’s share contribution to Philhealth
d. Employer’s share contribution to GSIS

20. Donor A donated a parcel of land to B on January 5, 2021 on account of

marriage. The property has a zonal value of P500,000 and an assessor’s market
value of P550,000. How much is the donor’s tax due if B is a legitimate child of
A? Former girlfriend of A?

CHILD FORMER GIRLFRIEND

a. P 18,000 P 18,000
b. P 29,400 P 150,000
c. P 33,000 P 33,000
d. P 16,400 P 150,000

21. The VAT rate is not

a. 12%
b. 5%
c. 0%
d. 10%

22. Which ceiling on the following de minimis benefits is not correct?

a. Monthly rice allowance – P2,000

b. Monetized value of vacation and sick leave credits paid to government
officials and employees - 10 days
c. Uniform and clothing allowance – P6,000 per annum
d. Medical cash allowance to dependents _ P250 per month

23. In 2022, Miss Minnie Dy received annual clothing allowance amounting to

P9,000. Her 13th month pay is P80,000. No other benefits were received for the
entire year. Which of the following statements is false?

a. The excess of P3,000 shall be taxable.

b. The entire Other Benefits of P83,000 is tax exempt.
c. Exempt on the entire P89,000.
d. The entire clothing allowance of P9,000 is tax exempt.

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24. Ling owns a small sari-sari store and a beauty parlor. In 2022, her gross
sales in the store amounted to P680,000, in addition to her receipts from the
parlor of ₱500,000, while her total cost of sales/services and operating expenses
amounted to P 300,000 and P200,000, respectively. The income tax due if she
signified her intention to be taxed at the 8% income tax rate

a. P 74,400
b. P 54,400
c. 94,400
d. None of the above

25. Sale of drugs and medicines prescribed for diabetes, high cholesterol, and
hypertension are exempt from VAT beginning

a. January 1, 2018
b. January 1, 2019
c. July 1, 2018
d. July 1, 2018
D. None of the above

26. Arnaldo, citizen and resident of China, died on October 17, 2021. He left
behind included in his gross estate shares of stocks of San Miguel Corporation, a
domestic corporation. The aforementioned shares of stocks were inherited on
November 17, 2020. What percentage of deduction will be used in computing his
allowable vanishing deduction?

a. 80% of the value taken as basis of vanishing deduction;

b. 100% of the value taken as basis of vanishing deduction;
c. 60% of the value taken as basis of vanishing deduction;
d. None of the above.

27. Statement 1: Josefa, who was a Filipino citizen, died, leaving behind a
gross estate whose fair market value at the time of her death was P1,200,000. Her
estate is not liable to pay estate tax.
Statement 2: Marcus, a citizen and resident of Italy, donated to the red
cross of the Philippines his car, which he specified to be used only by the
General Manager of the charitable institution. Marcos, may claim deduction on the
said gift.

a. True, True
b. True, False
c. False, False
d. False, True

28. In this power of the State, the person who is parting with his money or
property is presumed to receive a benefit.

a. Taxation
b. Eminent domain
c. Police power
d. Forfeiture power

29. First statement: A violation of inherent limitations can amount to taking of

property without due process of law.
Second statement: Any tax law contravening any of the inherent limitations
of taxation, in effect, will likewise be unconstitutional.

a. Both statements are correct

b. Both statements are incorrect
c. Only the first statement is correct

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d. Only the second statement is correct

30. The gross estate of this decedent shall only be comprised of properties
situated in the Philippines.

a. Filipino residing in the Philippines

b. American residing in the Philippines
c. Filipino residing in USA
d. American residing in USA

31. A large taxpayer subject to percentage has its principal office in Makati
City. Its President and CEO lives in Quezon City. Its warehouse is in Pasig City.
Where will the taxpayer file its consolidated monthly percentage tax return?

a. Authorized agent bank in Makati City

b. Revenue District Office in Quezon City
c. Office of the Collection Agent in Pasig City
d. Any of the above as long as the correct tax is paid

SITUATIONAL
The following date were provided by an air carrier:

Freight and cargo fees (cargo originating from the Philippines

in a continuous and uninterrupted flight to Japan, passage
documents sold in Japan P5,000,000
Mail fees (mail originating from Japan in a continuous and
uninterrupted flight to the Philippines, passage documents
sold in the Philippines 4,000,000
Receipts from sales of tickets to passengers originating from
the the Philippines in a continuous and uninterrupted
flight to Hongkong (tickets sold in the Philippines) 2,000,000
Advance payments for cargo originating from the Philippines in
a continuous and uninterrupted flight to Singapore
(passage documents sold in Singapore) 3,000,000
Expenses, Philippines 1,500,000

32. How much is the tax base for common carrier’s tax purposes assuming it is an
international carrier doing business in the Philippines?

a. P14,000,000
b. P8,000,000
c. P10,000,000
d. P7,000,000

33. How much is the common carrier’s tax due from the air carrier assuming it is
an international carrier doing business in the Philippines?

a. P420,000
b. P240,000
c. P300,000
d. P210,000

34. How much is the tax base for VAT purposes assuming it is a domestic air
carrier?

a. P14,000,000
b. P8,000,000
c. P10,000,000

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d. P7,000,000

35. Unless otherwise provided in the Local Government Code, the tax period of all
local taxes, fees and charges shall be the:

a. calendar year.
b. Fiscal year
c. Either fiscal or calendar year
d. Both calendar and fiscal year

36. The monthly utilization of water and electricity by the Senior Citizen
supplied by public utilities will be subject to a 5% discount.
I - The individual meters for the foregoing utilities are registered in the
name of the senior citizen or his caregiver residing therein:
II - The monthly consumption does not exceed one hundred kilowatt hours (100
kWh)of electricity and thirty cubic meters (30 m3) of water:
III - The privilege is granted per household regardless of the number of
senior citizens residing therein.

a. I, II and III are correct

b. Only I and II are correct
c. Only II and III correct
d. I, II and III are incorrect

37. Which of the following are the incentives given to Renewable Energy (RE)
Developer?
I – 7 years income tax holiday (ITH)
II – 10% corporate income tax rate
III – Tax Exemption of Carbon Credit
IV – Exemption from VAT

a. I, II, III and IV

b. I and II only
c. I, II and III only
d. I and IV only

38. First statement: At the option of the export enterprise, the domestic market
enterprise with a minimum investment capital of P500,000,000, and the domestic
market enterprise engaged in activities that are classified as “critical,”
they shall be granted SCIT and ED.

Second statement: In no case shall the Enhanced Deductions (ED) be granted

simultaneously with Special Corporate Income Tax (SCIT).
a. Both statements are correct
b. Only the first statement is correct
c. Both statements are incorrect
d. Only the second statement is correct

39. On April 17, 2022, Megablok Realty Inc, a condominium developer and seller
sold one of its condominium unit for Php3,000,000. The terms of payment are as
follows:
April 17, 2012 Downpayment Php750,000
April 17, 2013 2ND Installment Php750,000
April 17,2014 3rd Installment Php750,000
April 17, 2015 Final installment Php750,000

The Output VAT to be reported on the second quarter of 2022 is:

a. Php360,000
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b. Php 0
c. Php90,000
d. Php321,428

40. The beginning inventory of a taxpayer who started a business which he

registered under the VAT system in the year 2020 follows:
VAT-subject beginning inventory, at cost P5,000,000
VAT-subject beginning inventory, net realizable value 7,000,000
VAT-exempt beginning inventory, at cost 8,000,000
VAT-exempt beginning inventory, at net realizable value 6,000,000
Actual VAT paid 600,000

The allowable transitional input tax in 2020 is:

a. P600,000.
b. P220,000.
c. P300,000.
d. None, not allowed transitional input tax.

41. What basic principle of a sound tax system is met when Congress evolves a
progressive system of taxation as mandated in the Constitution?

a. Fiscal adequacy
b. Administrative feasibility
c. Theoretical justice
d. Balanced budget

42. In 2023, payments by local government units to government contractors or

sellers of office supplies are subject to 5%

a. final withholding tax

b. withholding tax on compensation
c. creditable withholding tax
d. expanded withholding tax

43. In January 2022, Don Knorr donated commercial land to his second cousin. The
value in the tax declaration is P2 million while the zonal value is P1.7 million.
How much is the tax due on the donation?

a. P 600,000
b. P120,000
c. 240,000
d. 105,000

44. Boo Gas is a rice dealer. His total annual gross sales do not exceed
P3,000,000.00. He can avail of the following, except:

a. As VAT-exempt taxpayer.
b. He may elect to avail of the optional registration for VAT of exempt person
c. If he elects to register as VAT taxpayer, he shall not be entitled to cancel
his VAT registration for five (5) years.
d. He may elect to pay the 8% commuted tax rate on gross sales or receipts and
other non-operating income in lieu of the graduated income tax rates and
percentage tax. However, he shall not be allowed to avail of the optional
registration for VAT of exempt person.

45. Mr. Z, single with one dependent child, operates a car aircon repair shop.
For the year 2022, it had gross receipts of P1,630,000. The cost of services and
operating expenses amounted to P400,000 and P200,000, respectively. The business
tax payable is
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a. P 48,900 percentage tax
b. P 30,900 percentage tax
c. Exempt
d. None of the above

45. Mr. Z, single with one dependent child, operates a car aircon repair shop.
For the year 2022, it had gross receipts of P1,630,000. The cost of services and
operating expenses amounted to P400,000 and P200,000, respectively. If Mr. Z
avails of the 8% tax option, the total tax due is

a.P 110,400
b.247,900
c.130,400
d.None of the above

SITUATIONAL
The Anong Pizza Na, VAT-registered issued the following official receipt to a
customer who was with a senior citizen:
Ordered by a senior citizen
Parma pizza P880.00
Mango basil 180.00 P1,060.00

Ordered by the non-senior citizen

House salad 420.00
Beef rendang 590.00
Avocado smoothie 190.00 1,200.00
Total sales (VAT inclusive) P2,260.00

46. How much is the VAT-exempt sale?

a. P2,017.85
b. P946.43
c. P1,060.00
d. None of the choices

47. How much is the sales discount for senior citizen?

a. P403.57
b. P189.29
c. P212.00
d. None of the choices

48. How much is the total amount due?

a. P2,260.00
b. P2,017.85
c. P2,140.00
d. None of the choices

49. A pure business or professional income earner who initially availed of the 8%
income tax and whose gross receipts exceed the VAT threshold during the year
shall be subject to:

a. Graduated income tax and VAT on his total gross receipts.

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b. Graduated income tax and percentage tax on the first P3,000,000 gross receipts
and 12% VAT on the excess of P3,000,000.
c. 8% income tax and percentage on all his gross receipts.
d. Graduated income tax and VAT in the succeeding year.

50. In a loan agreement between the Bangko Sentral ng Pilipinas (as borrower) and
private international banks (as lenders), it is stipulated that all payments of
interest by the Central Bank to the lenders shall be made free and clear from all
Philippine taxes which may be imposed thereon. Is the stipulation valid?

a. Yes, based on international comity.

b. Yes, based on the doctrine of non-taxability of the government.
c. No, violative of the inherent limitations.
d. No, violative of the constitutional limitations.

51. The President of the Philippines and the Prime Minister of Japan entered into
an executive agreement in respect of a loan facility to the Philippines from
Japan whereby it was stipulated that interest on loans granted by private
Japanese financial institutions to private financial institutions in the
Philippines shall not be subject to Philippine income taxes. Is the tax exemption
valid?

a. Yes, based on international comity.

b. Yes, based an on executive agreements and treaties.
c. No, it is a violation of essential characteristics of taxation.
d. No, based on the doctrine of territoriality

52. In every case of doubt, laws granting tax exemption shall be construed.

a. Strictly against the government and the taxpayer.

b. Liberally in favor of the government and the taxpayer.
c. Strictly against the government and liberally in favor of the taxpayer.
d. Liberally in favor of the government and strictly against the taxpayer

53. The gross income of alien individuals employed by POGO entities shall
include:

a. Basic salary or wages

b. Annuities
c. Compensation, remuneration and other emoluments, such as honoraria and
allowances, received from OGLs and Service Providers
d. All of the above

54. Which of the following is subject to income tax:

a. SSS and GSIS

b. Philippine Health Insurance Corporation
c. Professional Regulation Commission
d. Philippine Amusement and Gaming Corporation

55. Which of the following is not a taxable corporation:

a. Gina, Naty and Tina agreed to contribute their money into a common fund to
engage in the business of buying and selling dried fish. Their total investment
amounting to Php300,000 and they did not bother to register their business with
the DTI and the SEC.
b. Acel, Myra and Menchie, all certified public accountants, agreed to contribute
their money, property and industry to a common fund with the sole intention of
jointly exercising their common profession. They have registered with the SEC.

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c. Batangas Bus Company and Laguna Bus Company owns separate franchises to
operate a public utility covering the area of Southern Luzon. To achieve maximum
efficiency of utilizing their assets and to avoid the negative effects of
competition, the two companies agreed to pool their resources together and
operate as a single company.
d. Nimrod and Daryl, lawyer and certified public accountants respectively, agreed
to contribute their money, property and industry to a common fund to render
service of business process outsourcing.

56. How much shall be levied, assessed, and collected a tax equivalent to, on
invasive cosmetic procedures, surgeries, and body enhancements directed solely
towards improving, altering, or enhancing the patient’s appearance and do not
meaningfully promote the proper function of the body or prevent or treat
illness or disease?

a. Five percent (5%) based on the gross receipts derived from the
performance of services, net of excise tax and value-added tax.
b. Five percent (5%) based on the gross receipts derived from the
performance of services, gross of excise tax and value-added tax
c. Three percent (3%) based on the gross receipts derived from the
performance of services, gross of VAT and net of excise tax.
d. Two percent (2%) based on the gross receipts derived from the
performance of services, net of excise tax and value-added tax

SITUATIONAL
Your client is engaged in several transactions that are subject to business
taxes. The following data are presented for your perusal.
Gross receipts, sale of gas and water P3,500,000
Expenses, sale of gas and water 1,000,000
Gross receipts, rentals of office spaces 3,500,000
Expenses, rental of office spaces 500,000
Total premiums collected, life insurance premiums 4,000,000
Expenses, life insurance business 1,000,000

57. How much is the business tax of the sale of gas and water?
a. P105,000
b. P50,000
c. P70,000
d. None of the choices

58. How much is the business tax on the rent of office spaces, assuming the
taxpayer is not VAT-registered?
a. P420,000
b. P70,000
c. P105,000
d. None of the choices

59. If the taxpayer is a concessioner of a franchise grantee of water utilities,

not VAT-registered, how much is the business tax, if any?
a. P840,000
c. P140,000
b. P420,000
d. Answer not given

60. How much is the premiums tax?

a. P160,000
b. P40,000
c. P 80,000
d. Not subject to premiums tax

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61. BIR Form No. 1700 must be filled-out in
a. Duplicate copies
b. Quadruplicate copies
c. Triplicate copies
d. Quintuplicate copies

62. Romeo insured the lives of his sixty (60) employees under group insurance
with Sun Life Philippines Inc. Which of the following statements is false?

a. If the beneficiary is the employer, Romeo cannot claim the amount of premiums
paid as deduction from his gross income.
b. If an employee dies, the amount of proceeds shall not be subject to estate
tax.
c. If an employee dies, the proceeds shall be subject to income tax if the
beneficiary is the estate of the employee.
d. If an employee dies, the proceeds shall neither be subject to income tax nor
estate tax.

63. Fees, allowances, per diems and other form of income payments of P30,000 per
month to non-professionals hired by government under a job order or memorandum of
agreement are subject to

Expanded Withholding Tax Value-added Tax

a. Yes No
b. Yes Yes
c. No Yes
d. No No

64. Monthly bills charged on post-paid subscribers of mobile phone services by

telcos are subject to

a. Franchise Tax
b. Value-added Tax
c. Overseas Communications Tax
d. Sales Tax

65. All taxpayers with the following transactions are directed to secure a TIN
prior to their application for eCAR, except:

a. Real Property Tax – TIN of owner

b. From employment – TIN of income earner
c. Estate Tax – TIN of executor
d. Sale of Shares of stock – TIN of buyer/s

66. Which of the following is not a legal way of not paying tax?

a. Tax avoidance
b. Tax exemption
c. Tax evasion
d. Tax credit

67. A donation was made on March 14, 2021. The donor’s tax return was filed on
March 31, 2021. When is the last day to make a valid assessment?

a. March 14, 2024

b. April 14, 2024
c. April 13, 2024
d. September 14, 2024
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68. The offer to compromise based on financial incapacity may be accepted upon
showing the following, except when:

a. the corporation ceases operation or is already dissolved.

b. the taxpayer is suffering from surplus or earnings deficit resulting
to impairment in the original capital by 50%.
c. the taxpayer is a compensation income earner with no other source of
income and the family’s gross monthly compensation income does not
exceed P10,500, if single, or P21,000, if married.
d. the taxpayer does not waive in writing his privilege of the secrecy
of bank deposits.

69. Whiskey, rum, gin and vodka are:

a. Sparkling wines
b. Distilled spirits
c. Still wines
d. Fermented liquors

70. Mr. Jose Cruz, mango plantation owner, sold ripe mangoes to Juan Santos,
fresh fruit vendor. Mr. Santos sold the ripe mangoes he bought from Mr. Cruz to
Mr. Pedro Reyes, canned fruit processor. Who shall be subject to value-added tax
on sales?

a. Jose Cruz only

b. Jose Cruz and Mr. Juan Santos
c. Mr. Pedro Reyes
d. None among the three

END OF EXAMINATION

“When others doubt, we must BELIEVE in ourselves and abilities.

When other refuse to work we must roll up our sleeves and get to work.
And when others quit, we must stay the course and keep pushing forward.

The road to success is not easy, but those who stay the course and persevere
through adversity are the ones who ultimately come out on top.
So when you feel like giving up or doubting yourself, remember that your
perseverance and determination will be rewarded in the end.

Believe in yourself, work hard, and stay the course, and you will achieve the
success you desire.”

You are almost there future CPA! Congrats in advance for surviving the days that
you thought you couldn’t. No matter what happens just continue to believe in the
beauty of your dreams. -IDP

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