Indicate Whether Each of the Items Listed Below Would Be

question 43

Multiple Choice

Indicate whether each of the items listed below would be (a) included in gross income or (b) excluded from gross income for the 2017 tax year.
-Alimony

• A)Included
• B)Excluded

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Definitions:

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choice.

Cash Outlay

The total amount of cash that a company spends on expenses, investments, and transactions.

Alternative Investments

Investments in non-traditional assets, such as real estate, hedge funds, or commodities, as opposed to stocks and bonds.

Accumulated Depreciation

The contra asset account credited when recording the depreciation of a fixed asset.