Which of the Following Is Not a Necessary Condition for Income

question 130

Multiple Choice

Which of the following is not a necessary condition for income to be included in gross income?

• A)Income must be realized
• B)Income must be paid in cash
• C)Income cannot be excluded by law
• D)Income must be made available to a taxpayer on the cash basis
• E)All of the choices are correct

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Definitions:

Dividend

A payment made by a corporation to its shareholders, usually as a distribution of profits.