Norman and Ciara are trying to calculate their gross income for the current year. Which of the following items should they exclude from their gross income? - 1 - Cash inherited by Ciara from her mother. - 2 - Money borrowed by Norman and Ciara from First City Bank. - 3 - Gain from the sale of Norman and Ciara's boat. - 4 - Interest earned on a loan made by Norman to his cousin Vinnie. a. 1 and 2. b. 3 and 4. c. 1, 2 and 3. d. 1, 2 and 4.
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Home » Business » Norman and Ciara are trying to calculate their gross income for the current year. Which of the following items should they exclude from their gross income? - 1 - Cash inherited by Ciara from her mother.