Doug and Pattie Received the Following Interest Income in the Current

question 46

Multiple Choice

Doug and Pattie received the following interest income in the current year:
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Greenbacks Bank also gave Doug and Pattie a cellular phone (worth $100) for opening the savings account. What amount of interest income should they report on their joint income tax return?

• A)$4,775.
• B)$4,675.
• C)$4,575.
• D)$4,300.
• E)None of these.

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Definitions:

Social Entrepreneurship

The practice of recognizing and resourcefully pursuing opportunities to create social value, often through innovative solutions to social problems.

Social Goals

Objectives that aim to improve society and the well-being of individuals within it, typically involving efforts to address social issues.

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An international non-profit organization working to prevent avoidable blindness and promote the rights of people with disabilities.

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