Question

Which of the following represents economic benefits to a taxpayer?

a. Cash received for completing a job
b. Interest income on investments
c. Cash received from a bank loan
d. A computer received in exchange for services rendered

Answer 1

Economic benefits to a taxpayer can include cash received for completing a job, interest income on investments, and cash received from a bank loan.

Step-by-step explanation:

The economic benefits to a taxpayer can include:

1. Cash received for completing a job: This is considered taxable income and can benefit the taxpayer by increasing their overall income.
2. Interest income on investments: When a taxpayer earns interest on their investments, it adds to their overall income and can provide financial benefits.
3. Cash received from a bank loan: While the cash received from a bank loan is not directly a taxable benefit, it can provide financial support and opportunities for a taxpayer.

Overall, these economic benefits can contribute to a taxpayer's financial well-being and provide opportunities for growth and stability.