All of the Following Represent an Increase in Nonlabor Income

question 4

Multiple Choice

All of the following represent an increase in nonlabor income except

• A) a decrease in the income tax rate.
• B) receiving higher dividends from a stock portfolio.
• C) an increase in a spouse's wage.
• D) receiving an inheritance from a long-lost uncle who recently passed away.
• E) having one's property tax bill fall by $1000.

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Definitions:

Apparent Agency

An agency relationship created by operation of law when one party, by his actions, causes a third party to believe Experiential Element

Insolvency

A financial state where an individual or entity cannot meet their debt obligations as they become due.

Fiduciary

A person or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.

Agency Relationship

The association between one party and an agent who acts on behalf of that party.