The discharge of certain student loans is excluded from income if all of the following are present except for

A. the loan forgiveness is based on age.
B. the loan must have been made by governmental, educational, or charitable organizations.
C. the loan proceeds must have been used to pay the cost of attending an education institution or used to refinance outstanding student loans.
D. the loan forgiveness must be contingent upon the individual's working for a specified period of time in certain professions.


Answer: A

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Each of the following transactions would be classified as either an investing or a financing activity except

a. investments in stock are purchased. b. a bank loan is obtained. c. stock is issued to acquire land. d. dividends are paid.

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Suppose that the average time an employee takes to reach the office is 35 minutes. To address the issue of late comers, the mode of transport chosen by the employee is tracked: private transport (two-wheelers and four-wheelers) and public transport. The data on the average time (in minutes) taken using both a private transportation system and a public transportation system for a sample of employees are given below.

  Private Transport Public Transport 27 30 33 29 28 25 32 20 20 27 34 32 30 37 28 38 18 21 29 35 a. Considering the travel times (in minutes) of employees using private transport, compute the z-score for the tenth employee with travel time of 29 minutes. b. Considering the travel times (in minutes) of employees using public transport, compute the z-score for the second employee with travel time of 29 minutes. How does this z-score compare with the z-score you calculated for part a?c. Based on z-scores, do the data for employees using private transport and public transport contain any outliers? What will be an ideal response?

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