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R Received Cash Income in the Current Year from the Following

Question 39

Multiple Choice

R received cash income in the current year from the following investments: bank savings account interest, $43; municipal bond interest, $88; Canadian corporate stock dividend, $112; U.S.public utility stock dividend, $58; and corporate bond interest, $196.All amounts received on stock were paid from current earnings.The amount included in gross income of R is


A) $497
B) $439
C) $409
D) $351

Correct Answer:

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