Identify the three conditions that all must be met for income to be taxable.

I$)$ The taxpayer must receive cash.

II$)$ The taxpayer's wealth has increased.

III$)$ The taxpayer has realized an increase in wealth.

IV$)$ The law does not provide a specific exclusion for this type of income.

V$)$ The taxpayer's liabilities increase in value.

I, II$,$ or V

II$,$ III, and IV

I, III, and $V$

II$,$ III or V