As Used in the Income Tax Formula,gross Income Would Not

question 130

True/False

As used in the income tax formula,gross income would not include the receipt of a loan the taxpayer obtained from a bank.

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Definitions:

Pre-tax Cost

The expense associated with a resource or activity before the effect of taxes is considered.

Semi-annually

Occurring twice a year, a term often used in reference to the payment of interest or dividends.

Coupon

In finance, a coupon refers to the interest payment received by a bondholder from the bond’s issuer at predetermined intervals until the bond’s maturity.

Dividend Growth Rate

The annual percentage rate at which the dividends paid by a stock or company increase.