Which of the Following Must Be Classified as "Portfolio Income

question 97

Multiple Choice

Which of the following must be classified as "portfolio income?"
I.Dividend income from an investment in Lincoln Corp. common stock.
II.Royalty income from the ownership of the mineral rights on land. The taxpayer does not share the expenses with the extraction company.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Extraversion

A personality trait characterized by energy, positive emotions, and the tendency to seek stimulation in the company of others.

Fraternal Twins

Siblings born at the same time who have developed from two separate eggs fertilized by different sperm, making them genetically distinct.

Identical Twins

Genetically identical siblings, conceived from a single fertilized egg that splits into two.

Extraversion

A personality trait typified by outgoingness, high energy, and positive emotions.