Indicate Whether Each of the Items Listed Below Would Be

question 94

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 2019 tax year.
-Unemployment compensation

• A)Included
• B)Excluded

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Definitions:

Asset's Life

The expected period during which an asset remains useful for its intended purpose or serviceable.

Straight-Line Depreciation

A technique of distributing the expense of a physical asset across its lifespan in uniform yearly payments.

Cash Inflow

The total amount of money being transferred into a business, typically from operations, financing, and investing activities.

Accounting Rate

Accounting rate, often referred to as the rate of return, measures the profitability of investments or projects expressed as a percentage.