Each of the Numbered Items Below Is Accorded Only One

question 62

Multiple Choice

Each of the numbered items below is accorded only one of the following lettered treatments. Use the existing law as it applies to the current year, match the best answer to the statements below.
-Tina receives 100 shares of Welby stock as a result of a 2 for 1 stock split. The shares have a value of $7,000 the day of the split.

• A)Fully excluded from gross income.
• B)Fully included in gross income.
• C)Partially excluded from gross income.

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Definitions:

Adults

Individuals who have reached the age of maturity as defined by legal, social, or cultural standards, typically gaining responsibilities and rights associated with adulthood.

Risks

Potential situations or actions that could lead to harm, loss, or another adverse effect.

School Accidents

Unintended and unplanned incidents that occur within school premises or during school activities, potentially resulting in injury.