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Which of the following amounts is most likely to be assessable as ordinary income to the recipient if received during the current income tax year?
Which of the following amounts is most likely to be assessable as ordinary income to the recipient if received during the current income tax year?
A lump sum of $ received by an employee from an insurance company for weeks of lost wages due to illness, calculated at $ per week.
A lump sum of $ received by an employee from an insurance company for the loss of a thumb on their right hand while they were working.
A lump sum of $ received by a company in relation to the sale of land it had held for years upon which it carried on business.
A lump sum of $ received by a company as compensation.
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