The term "taxable amount" includes:

Question

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The taxable amount refers to the amount of income or revenue that is subject to taxation. Revenues that are included in the tax return before they are recognized for accounting purposes are considered taxable amounts. Gains and losses that are recognized for accounting purposes may or may not be included in the taxable amount, depending on how they are treated for tax purposes. Warranty deductions are not typically considered taxable amounts, as they are generally considered expenses that reduce taxable income.

The Term "Taxable Amount" Includes