Which of the Following Items Will Result in an Increase

question 100

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.

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Definitions:

Popular Sovereignty

The principle that the authority of a state and its government is created and sustained by the consent of its people, through elected representatives.

Constitutional Amendment

A formal change or addition to a constitution, often requiring a specific process of proposal and ratification by the government or the people.

Nationwide Election

An election process that occurs across an entire country to select national leaders or to decide on national policies.

Wilmot Proviso

An unsuccessful proposal in 1846 to prohibit slavery in the territory acquired by the United States at the end of the Mexican-American War.