All of the Following Are Types of Nontaxable Income Except

question 35

Multiple Choice

All of the following are types of nontaxable income except

• A) child support payments.
• B) casualty insurance reimbursements.
• C) rental income.
• D) reimbursements of moving expenses by an employer.

---

Definitions:

American Corporations

Organizations incorporated under the laws of the United States, engaging in commercial, industrial, or professional activities.

State Legislatures

The legislative bodies within each of the states in the United States, responsible for creating state laws and policies.

Corporate Veil

A legal concept that separates the actions and liabilities of a corporation from those of its shareholders, protecting them from personal liability.

Creditors

Individuals or entities to whom money is owed by another individual or entity known as the debtor.