This includes all remuneration for services performed by an employee for his employer under an employer-employee relationship, unless specifically excluded by the Code. Passive income false Business income false Compensation income true None of the above false Single Income that are subject to final tax. Examples of passive income are interest, royalties and dividends. Compensation income false Passive income true Business income false None of the above false Single This income arises from self-employment or practice of profession. Business income true Compensation income false Passive income false None of the above false Single Self-employed or professionals Sole Proprietor true Offshore Banking Unit false Non-resident citizen false None of the above false Single There are _____ classifications of individual income tax payer. three false two true four false None of the above false Single Refers to a thrift bank or a commercial bank organized under the laws of the Republic of the Philippines. Offshore Banking Unit false Local branch of a foreign bank false Local Bank true None of the above false Single Refers to a branch of a foreign bank doing business in the Philippines, pursuant to the provisions of R.A. 337, as amended. Local branch of a foreign bank true Local Bank false Offshore Banking Unit false None of the above false Single Means an individual whose residence is not within the Philippines and who is not a citizen thereof. Resident Alien false Non-resident alien true Resident Citizen false None of the above false Single Means an individual whose residence is within the Philippines and who is not a citizen thereof. Non-resident alien false Resident Alien true Resident Citizen false None of the above false Single FCDS stands for ___________________________. Foreign crypto deposit system false Foreign currency debit system false Foreign currency deposit system true None of the above false Single