Which of the Following Types of Income Would Probably Be

question 2

Multiple Choice

Which of the following types of income would probably be considered "business income" for state income tax purposes?

• A)Rents received on a piece of residential property not used in the taxpayer's trade or business
• B)Royalties from the licensing of a patent developed by the taxpayer in the ordinary course of its research and development activities
• C)Gain recognized on the sale of an asset not used in the regular course of the taxpayer's trade or business
• D)Dividends on long-term investments of excess funds
• E)None of the above

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Definitions:

Ethicality

The degree to which behaviors, decisions, or actions are in alignment with accepted moral standards and principles.

Progressive Disciplinary Program

A systematic approach to discipline within an organization where the severity of the penalty increases with each subsequent offense.

Disciplinary

Relating to or used for correction, punishment, or controlling behavior, often within an organizational environment.

Turnover Process

The sequence of steps or activities involved when an employee leaves an organization and is replaced.