Which of the Following Never Generate Taxable Income

question 22

Multiple Choice

Which of the following never generate taxable income?
I.Interest free loan from family member.
II.Interest free loan from employer.
III.Interest free loan under $10,000.
IV.Interest free loan over $100,000.
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• A)Only statement I is correct.
• B)Only statements I and III are correct.
• C)Only statements I and II and III are correct.
• D)Only statement III is correct.
• E)Only statements II and III are correct.

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Definitions:

Norepinephrine

A neurotransmitter and hormone involved in the body's fight or flight response, playing a key role in attention and reactions to stress.

Ischemic Heart Disease

A condition in which blood supply to the heart becomes compromised, leading to a myocardial infarction. One of the leading causes of death from diseases of the cardiovascular system in Western societies.

Cortisol

A steroid hormone produced by the adrenal glands, often released in response to stress and low blood-glucose concentration.

Neuronal Damage

Harm or injury to neurons, the basic working units of the brain and nervous system, leading to various neurological conditions.