IDENTIFICATION 3 Flashcards
(11 cards)
A person or entity engaged in the business of leasing real property, either residential or commercial, for a fee or rental income.
Answer: Real Estate Lessor
A foreign individual or corporation not residing in the Philippines but leasing out property located in the country.
Answer: Non-Resident Lessor/Owner
A written agreement between a lessor and lessee outlining the terms of rental of a property or equipment.
Answer: Lease Contract
A payment made ahead of the due date for goods or services to be delivered or rendered in the future.
Answer: Advance Payment
A rental payment made in advance before the rental period starts.
Answer: Prepaid Rental
A stock corporation that earns income from real estate assets and is governed by the REIT Act of 2009.
Answer: Real Estate Investment Trust (REIT)
A commercial service involving the storage of goods for a fee.
Answer: Warehousing Service –
A business engaged in processing agricultural produce, such as rice or sugar, into finished products.
Answer: Miller
A person or entity engaged in buying and selling securities as a business.
Answer: Dealer in Securities
An entity primarily engaged in the business of lending money for interest.
Answer: Lending Investor –
A special court in the Philippines that has exclusive jurisdiction to review tax cases and decisions of tax authorities.
Answer: Court of Tax Appeals
