Maryellen Epplin Worked in Poland for Part of the Year

question 95

Multiple Choice

Maryellen Epplin worked in Poland for part of the year and earned $50,000 while she was there. This income will not be included in her taxable income for the year. This represents a tax:

• A) deduction.
• B) exclusion.
• C) exemption.
• D) credit.
• E) refund.

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Definitions:

Reinvesting Profits

The practice of using earned profits to invest back into the business to promote growth and development.

Declare Dividends

The action by a company's board of directors to distribute profits to shareholders.

Par Value

The face value of a bond or stock as set forth in its certificate.

Two-For-One Stock Split

An action by a company to increase its number of shares by dividing each existing share into two, often to make the stock more affordable.