Examlex
Which of the following is excluded from gross income?
Interest
The charge for borrowing money or the compensation paid to a lender by a borrower for the use of borrowed funds.
Total Assets
The sum of all resources owned by a company, including cash, inventory, property, and equipment, reflected on the balance sheet.
Depreciation
A method of allocating the cost of a tangible asset over its useful life.
Interest Receivable
An accounting term for interest that has been earned but not yet received in cash.
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