Asked by Devin Usher on Jun 10, 2024

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Income may be realized in the form of:

A) Property.
B) Cash.
C) Services.
D) All of these.

Realized

Pertains to the conversion of an asset into cash or when a gain or loss is acknowledged upon selling or trading an asset.

Form

A document used to collect or provide information, often used for administrative purposes or in formal transactions, like tax forms.

Income

Payment received, often on a consistent schedule, for employment or from investment profits.

  • Comprehend the instances obligating a taxpayer to disclose income and the effects of financial gains on tax dues.
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Verified Answer

AB
Alondra BelloJun 15, 2024
Final Answer :
D
Explanation :
Income can be received in the form of property (such as rental income or capital gains on the sale of property), cash (such as salary or interest income), and services (such as income earned through self-employment or freelancing). Therefore, all of the given choices are correct.