Match Each Statement with the Correct Term Below

question 146

Multiple Choice

Match each statement with the correct term below.
-Earned income

• A)The category of income that includes interest, dividends, and rents.
• B)Income from wages, salaries, and trade or businesses.
• C)Interest income resulting from making an interest-free gift loan of $200,000.
• D)A taxable amount received from a state plan to provide a substitute for an employee's earned income.
• E)A series of equal payments received over equal time periods.
• F)A receipt of cash from a former spouse that is included in gross income.
• G)A payment received from a former spouse that is not included in gross income.
• H)A division of marital assets that does not result in any income recognition.
• I)A sale of property in which at least one payment is received in a tax year after the year of sale
• J)A method of accounting that must be used to recognize income from long-term construction contracts.
• K)A debt instrument that has the interest paid at maturity rather than throughout the life of the debt.

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Definitions:

Interviewer

A person who conducts an interview, asking questions to gather information or assess the qualifications of an interviewee.

Interests Outside

Activities and hobbies engaged in apart from professional or main life duties.

Work

Tasks or activities undertaken to achieve a goal, often in exchange for payment; also refers to employment or occupation.

Good Impression

the positive perception or judgment formed by someone based on initial encounters or interactions.