Question 26 1 pts Which is TRUE in Barangay Micro Business Enterprise (BMBE)? S1: Corporations cannot register as BMBE. S2: Cooperatives can register as BMBE. S3: In order to be qualified as BMBE, total asset of the business, real or personal, inclusive of those arising from loans but including the land on which the particular business entity's office, plant and equipment are situated, shall not be more than Three Million Pesos (P3,000,000.00). S4: The DTI may cancel the registration of an entity who is registered as BMBE if it transfers its business from one place to another of the same locality. O b. Only S2 is true O d. Only S4 is true O e. All is false a. Only S1 is true O c. Only S3 is true Question 25 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 years. The 20,000,000 spent by the proprietary educational institution, choose the best answer: O d. Capitalized and expensed outright at the option of the Bureau of Internal Revenue. O c. Capitalized or expensed outright at the option of Santa Maria College, Inc. a. Must be claimed as expense in the year of completion. O b. Capitalize and claim annual depreciation over the 50 years