Santa Maria College, Inc. a proprietary educational institution, spent P 20,000,000 for the construction of...
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Santa Maria College, Inc. a proprietary educational institution, spent P 20,000,000 for the construction of a new school building. The estimated useful life of the building is 50 yearsThe P 20,000,000 spent by the proprietary educational institution, choose the best answer A. Capitalized and expensed outright at the option of the Bureau of Internal Revenue B. Must be claimed as expense in the year of completion C. Capitalized or expensed outright at the option of Santa Maria College, Inc. D. Capitalize and claim annual depreciation over the 50 years
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