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Statement I. Cash deposits maybe subject to withdrawal to the maximum amount of P20,000 until...

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Accounting

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Statement I. Cash deposits maybe subject to withdrawal to the maximum amount of P20,000 until estate tax returns have been filed. Statement II. A decedent's deposit account may be withdrawn prior to the filing and payment of the estate tax provided it will be subjected to 10% final withholding tax. Both statements are incorrect Only the second statement is correct Both statements are correct Only the first statement is correct

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