Respuesta :
If Shelly is a student who has received an academic scholarship that paid $4,000 for tuition, $500 for fees, and $400 for books, no amount must be added to her gross income.
Scholarships that cover eligible educational costs at eligible educational institutions are often exempt from taxation. The sum of an individual's income before taxes or other reductions is their gross income, which is sometimes referred to as their gross pay on a paycheck.
This covers earnings from all sources, not only work, and is not restricted to earnings in cash; it also covers earnings from the receipt of goods or services. For businesses, the terms gross income, gross margin, and gross profit are equivalent.
On the income statement, a company's gross income is calculated as total revenue less the cost of goods sold (COGS).
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