Income realization may occur as a result of

I. Relief from a liability.

II. Income earned on a passive investment.

III. Payment of the taxpayer's debt by another.

IV. A barter transaction where only goods and services are exchanged

Group of answer choices

Only statements I, II, and IV are correct

Statements I, II, III, and IV are all correct

Only statement I is correct

Only statement II is correct

Only statements I and IV are correct