Except as otherwise provided, gross income means all income from whatever source derived.
Answer the following statement true (T) or false (F)
True
The tax law (IRC Sec. 61) does include all income from whatever source derived unless another IRC section specifically excludes it.
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Which of the following is a characteristic of countries in a free trade area?
A) abolition of internal tariffs and quotas B) establishment of common external barriers C) removal of restriction on factor movements D) harmonization of economic, social, and regulatory policies
Four essential elements are necessary to create a valid contract. Which of the following is not one of these elements?
a. Something of value must be given by each party. b. The offeror and offeree must reach agreement. c. The parties have the capacity to contract. d. The agreement must be in writing.
Gilbert wants to initiate a suit against Healthways Insurance Company by filing a complaint. The complaint should include? A)?an explanation of the proof to be offered at trial
B)?a statement refuting any defense that the defendant might assert. C)?a motion for judgment on the pleadings. D)?a statement alleging the facts showing the court has jurisdiction.
Paternalistic leadership is popular in all of the following areas of the world EXCEPT:
A. Latin America B. The United States C. Mexico D. Turkey