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.
​

• 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.

---

Definitions:

Tone

The attitude or emotional characteristics exhibited through word choice, writing style, or voice, affecting the overall feel conveyed by communication.

Instant Messaging

A form of real-time text-based communication between two or more people over the internet or a network, allowing for immediate receipt and response.

Text Messaging

The act of sending brief written messages via mobile devices or computer systems, a common form of digital communication.

Real Time

Pertaining to the processing of data or information at the moment it is received, allowing for immediate action or response.