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9. 8. Which of the following would NOT result in income realization? Note ALL that apply (i.e., there may be more than one answer).
9. 8. Which of the following would NOT result in income realization? Note ALL that apply (i.e., there may be more than one answer). a. Payment of your indebtedness by another. b. Receiving a Lamborghini for your 21" birthday. c. A barter transaction where only goods and services are exchanged. d. Your roommate paying back the principal on the $10,000 you loaned him. Kevin provided services to several clients this year who paid their bills with different types of property. Which of the following payments (received by Kevin during the year) is not included in Kevin's gross income? a. Cash. b. Shares of stock listed on the New York Stock Exchange. c. A used car. d. None of the above. That is all of the above are included in gross income.
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