Which of the following is not taxable for income tax purposes?
A) Interest income
B) Income from a rental property
C) Child support
D) Dividend income from selling stock
Answer: C
You might also like to view...
On December 31 . 2014, Behring Enterprises leased equipment from R & R Equipment Rental. Pertinent lease transaction data are as follows: • The estimated seven-year useful equipment life coincides with the lease term. • The first of the seven equal annual $300,000 lease payments was paid on December 31 . 2014. • R & R's implicit interest rate of 1 . percent is known to Behring. •
Behring's incremental borrowing rate is 1 . percent. • Present values of an annuity of 1 in advance for seven periods are 5.11 at 1 . percent and 4.89 at 1 . percent. Behring should record the equipment on the books at a. $2,100,000. b. $1,533,000. c. $1,467,000. d. $0.
The point where the profit line intersects the horizontal axis on the profit-volume chart represents:
A) the maximum possible operating loss B) the maximum possible operating income C) the total fixed costs D) the break-even point
Sending a thank-you message following an interview is a professional courtesy, but unnecessary if you thank the interviewer before departing from the interview
Indicate whether the statement is true or false
Don executes a will leaving half of his farm to his spouse Elsie and the rest to his sons, Frank and Greg, in equal shares. The will disinherits a third son, Hal. Don and Elsie divorce, but Don dies before changing his will. Under the Uniform Probate Code
A. Elsie receives half of the farm, and Frank and Greg share the rest. B. Elsie receives half of the farm, and Frank, Greg, and Hal share the rest. C. Frank and Greg receive the entire estate in equal shares. D. the state inherits the entire estate.