Q1. Explain formula for individual’s income tax and business entities. (five marks)
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Q2. Arrange relative tax liability by filing status from lowest to highest? (2.5 marks)
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Q3. Contrast concepts of Income from accounting , economic and tax perspectives.( use your own words ) (five marks)
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Q4. Idinify Items that are not Income under US income tax law. ? (2.5 marks)
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