Which of the Following Items Will Result in an Increase

question 95

Multiple Choice

Which of the following items will result in an increase in gross income?

• A)Receipt of a $10,000 check from the bank.The check is for a student loan.
• B)Receiving a $10,000 award from a university for high grades and high SAT scores.The award is used to pay tuition.
• C)Preparing a mechanic's tax return in exchange for the mechanic replacing the muffler on your car.
• D)None of the above will be included in gross income.

---

Definitions:

Multilateral Organization

An organization composed of multiple countries that work together on a given issue or project.

Subsidized Loans

Loans on which the interest is either paid by another party or is not accrued, reducing the cost for the borrower, usually provided based on financial need.

Flat World

A metaphor describing a global environment where geographical and cultural barriers to communication, trade, and travel are diminishing, making the world more interconnected.

Free Access

Refers to the ability to obtain or use services without financial or restrictive barriers.