Sample #1: Answer: B) Canceled debts as gifts, since they aren’t taxable income. Explanation: When a debt is canceled as a gift, it is excluded from taxable income because gifts are not subject to ...

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💬 Student Review: “I liked the exam readiness quiz (66%) and used it as tool as to where to focus, but I think the practice exam should have followed the same logic and been used as a predictor… I ...