l the following are examples of non-taxable income, except elect one Oa Proceeds received as beneficiary of a life insurance contract due to the death of the insured Ob. Income from illegal activities OC Shares of stock received as an inheritance Od. Cash received as a gift

l the following are examples of non-taxable income, except elect one Oa Proceeds received as beneficiary of a life insurance contract due to the death of the insured Ob. Income from illegal activities OC Shares of stock received as an inheritance Od. Cash received as a gift

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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All the following are exampies of non-taxable income, except
Select one
O a. Proceeds received as beneficiary of a life insurance contract due to the death of the insured
O b. income from illegal activities
OC Shares of stock received as an inheritance
O d. Cash received as a gift
Oe All of these are non-taxable

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