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In Kohlberg's model, stage three moral reasoning involves universal ethical principles.
Taxable Income
The amount of income used to calculate an individual's or a company's income tax due, typically gross income minus deductions and exemptions.
Exempt Items
Goods or services that are not subject to tax under specific tax laws or regulations.
Gross Income
The total income from all sources before any deductions or taxes are taken out.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.
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