Which of the Following Is Not Included in Gross Income

question 119

Multiple Choice

Which of the following is not included in gross income when received?

• A)interest received on bank accounts
• B)royalties paid to an author
• C)amounts received to cancel or modify a lease
• D)refundable security deposit

Understand the concept of favorable and unfavorable variances in revenue and cost management.

Recognize the difference between static planning budgets and flexible budgets.

Identify the factors that lead to variances in material and labor costs in production.

Comprehend the role of fixed and variable costs in budgeting and financial performance evaluation.