Which of the Following Never Generate Taxable Income

question 22

Multiple Choice

Which of the following never generate taxable income?
I.Interest free loan from family member.
II.Interest free loan from employer.
III.Interest free loan under $10,000.
IV.Interest free loan over $100,000.
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• A)Only statement I is correct.
• B)Only statements I and III are correct.
• C)Only statements I and II and III are correct.
• D)Only statement III is correct.
• E)Only statements II and III are correct.

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Definitions:

Assembly Line

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product more efficiently.

Orientation

The formal process of familiarizing new employees with the organization, their jobs, and their work units.

Onboarding Programs

Initiatives designed to integrate new employees into an organization by familiarizing them with company policies, culture, and their specific roles.

Orientation Programs

Structured initiatives designed to help new employees acclimate to their roles and the company culture, policies, and expectations.