Which of the Following Is Not Excluded from Income? (Assume

question 31

Multiple Choice

Which of the following is not excluded from income? (Assume that any amounts received by the taxpayer were kept.)

• A)public assistance payments.
• B)fair market value of prize won on a game show.
• C)gifts and inheritances.
• D)life insurance proceeds paid by reason of death.

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Definitions:

Information

Data that is processed, organized, or structured in a given context to make it meaningful or useful.

Particular Event

A specific occurrence or happening, often noteworthy or significant in some regard.

Factual Information

Knowledge or data based on real occurrences, observable phenomena, or verified facts.

Eyewitness

A person who directly observes an event and can provide a first-hand account or testimony of what happened, often used in the context of legal evidence.