Posted on January 16, 2010 at 10:00pm
Mr. Dave received interest on income tax refund of $ 2 for year 2008 ,along with his refund..
1) $ 2 dollars is a taxable.
2) $ 2 dollars is not taxable.
A) 1 only
B) 2 only
C) Both 1 and 2
As a CPA student you might have guessed by now what the answer is ...
This self prepared question though not meant to prepare you for CPA Regulation Exam but...
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