What is business?

What will be an ideal response?

Answer: Organization that provides goods or services to earn profits.

Business

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As a result of a divorce, a taxpayer received the following during the current year: Cash from the property settlement $100,000 Child support 12,000 Alimony payments 30,000 What amount, if any, must be included in gross income for the current year?

a. $130,000 b. $142,000 c. $30,000 d. $0

Business

This document is a legal contract that defines responsibility for goods that are in transit.

A) packing slip B) bill of lading C) picking list D) back order

Business