Which of the Following Is Not Excluded from Income

question 92

Multiple Choice

Which of the following is not excluded from income?

• A)public assistance payments
• B)fair market value of prize won on a game show
• C)gifts and inheritances
• D)life insurance proceeds paid by reason of death

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Definitions:

Inflation

The velocity at which the overall cost of products and services climbs, reducing purchasing capability.

Full Disclosure

Full disclosure is a policy requiring companies to provide all relevant, material information about their operations, financial condition, and management to investors and stakeholders.

SEC

The United States Securities and Exchange Commission is a federal body tasked with overseeing the securities market and safeguarding investors.

Fair Price

The equilibrium price for a good or service in the market where the quantity supplied equals the quantity demanded.