Indicate Whether Each of the Items Listed Below Would Be

question 128

Multiple Choice

Indicate whether each of the items listed below would be (a) included in gross income or (b) excluded from gross income for the 2019 tax year.
-Reimbursement of hospital expenses from a health insurance plan

• A)Included
• B)Excluded

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Definitions:

Statement Of Owner's Equity

A financial document that shows changes in the owner's equity account over a period, including contributions, withdrawals, and the business's net income or loss.

Current Year

The period of time from January 1 to December 31 of the present calendar year.

Statement Of Cash Flows

A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents.

Interrelationship

A connection or relation between two or more things, often examined to understand how changes in one aspect can affect others.