Examlex
All of the following are included in gross income for federal tax purposes, except:
Affiliated Companies
Affiliated companies are those that are connected or associated with each other through common ownership, control, or influence, but are not fully integrated as a single entity.
Consolidated Total
Combined total figures that merge the financial statements of a parent company and its subsidiaries into one comprehensive financial statement.
Equity Methods
An accounting technique used to record investments in associate companies, where the investment is initially recorded at cost and adjusted according to the investor's share of the investee's profits or losses.
Cost
The amount of money or resources expended to gain an object or service.
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