Midterm Exam Question 10

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Midterm Exam Question 10

Question

Midterm Exam

10.  All of the following items are generally excluded from income except

  1. life insurance proceeds paid by reason of death.
  2. interest on state and local government bonds.
  3. child support payments.
  4. interest on corporate bonds.

 

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This question is taken from Accounting 015 – Tax Accounting I » Spring 2021 » Midterm Exam