(6) (4) is the following statement true or false? Taxable income is defined according to the general formula in s.4-15(1) being: TAXABLE INCOME ASSESSABLE INCOME+OFFSETS (a) TRUE (6) FALSE (5) "Assessable income' consists of: (a) 'ordinary Income' and 'statutory income' pursuant to s.6-1(1) ITAA97; (b) dividend income and income from the sale of financial Instruments pursuant to the Taxation of Financial Arrangements (TOFA) provisions in the ITAA97; (c) amounts such as prize winnings, lottery prizes and proceeds from gambling activities; (d) All of the above. ( Ordinary income' is: (a) restricted to profits from Isolated transactions; (b) whatever the Commissioner of Taxation defines ordinary income to mean; (c) defined as income according to ordinary concepts' (s.6-5(1) ITAA97): In other words what the Courts, over many years, have determined "ordinary income' to include: (d) None of the above. (7) "Statutory income' means: (a) gains from the sale of business assets including land and buildings: (b) amounts that are not ordinary income' but which are included in "assessable income by a provision of the tax legislation (s.6-10(1) ITAA97); (e) amounts received by non-residents transferred from foreign countries; (d) All of the above (8) Is the following statement true or false? Deductions generally fall into one of two categories: "general deductions" (s.8-1 ITAA97) which are normally related to expenses incurred in earning, or attempting to earn income and specific deductions" (s.8-5 ITAA97) which are related to particular types of expenses incurred which would not quality as 'general deductions (a) TRUE FALSE [b