Which of the following is not taxable for income tax purposes? a. Prizes b. Severance pay c.

Question:

Which of the following is not taxable for income tax purposes?

a. Prizes

b. Severance pay

c. Gifts

e. All of the above are taxable

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...

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