Cash Received by an Individual

question 70

Multiple Choice

Cash received by an individual:

• A)Is not included in gross income if it was not earned.
• B)Is not taxable unless the payor is legally obligated to make the payment.
• C)Must always be included in gross income.
• D)May be included in gross income although the payor is not legally obligated to make the payment.
• E)None of the above.

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Definitions:

Learning Outcomes

The knowledge, skills, attitudes, and values that learners are expected to achieve as a result of undergoing specific educational activities.

Self-Efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.

Chaining Ability

The capacity to link together a series of actions or learning steps into a coherent and successful sequence.

Self-Awareness

The conscious knowledge of one’s own character, feelings, motives, and desires.