Q1. Explain formula for individual’s income tax and business entities. (five marks)
Q2. Arrange relative tax liability by filing status from lowest to highest? (2.5 marks)
Q3. Contrast concepts of Income from accounting , economic and tax perspectives.( use your own words ) (five marks)
Q4. Idinify Items that are not Income under US income tax law. ? (2.5 marks)
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