It means the regular conduct or pursuit of a commercial or an economic activity, including transactions incidental thereto, by any person regardless of whether or not the person engaged therein is a nonstock, nonprofit private organization (irrespective of the disposition of its net income and whether or not it sells exclusively to members or their guests), or government entity.a.in the course of real estateb.in the course of trade and businessc.in the course of agricultured.in the course of compensation and benefits

Which is NOT included as transactions considered "in the course of trade or business" subject to the business taxes?Select one:a.Isolated sale services of goods or services for a gross selling price or receipts of Php 800, 000b.Regular conduct or pursuit of a commercial or an economic activity by a non-stock, non-profit private organizationc.Isolated services in the Philippines by non-resident foreign individualsd.Regular conduct or pursuit of a commercial or an economic activity by a stock private organization

Items held for sale in the normal course of business are referred to as

Organization refers to _______ entity. Commercial Practitioner Government non-profit

Match each term with the correct definition. a. An institution that brings buyers and sellers together:   b. The right of private persons and firms to obtain, control, employ, dispose of, and bequeath land, capital, and other property:   c. The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit:   d. The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice:   e. What each individual or firm believes is best for itself and seeks to obtain:   f. Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off:   g. The freedom of resource owners to dispose of their resources as they think best, of workers to enter any line of work for which they are qualified, and of consumers to spend their incomes in whatever way they feel is most appropriate:

It is the transfer, use or consumption not in the course of business of goods or properties originally intended for sale or for use in the course of businessa.Transactions Deemed Saleb.Consultative Sellingc.Insight Sellingd.Social Selling