Which One of the Following Items Is Not Considered Gross

question 64

Multiple Choice

Which one of the following items is not considered gross income for tax purposes?

• A)gambling winnings
• B)illegal income
• C)face amount of life insurance received due to the death of the insured
• D)cash dividends

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Definitions:

Exchange

The act of giving one thing and receiving another in return, often used in the context of trading goods, services, or currencies.

Production-oriented Era

Refers to a period in business history where the focus was primarily on production efficiency, manufacturing, and product capabilities rather than the needs or desires of customers.

Sales-oriented Era

A period in business history when the main focus of companies was increasing sales, often without regard to customer needs or satisfaction.

Market-oriented Era

The Market-oriented Era is a phase in marketing history characterized by a focus on meeting customers' needs and desires, understanding market demand, and creating value through marketing activities.