5 Questions

Instructions – PLEASE READ THEM CAREFULLY
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The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
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Assignments submitted through email will not be accepted.
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Students are advised to make their work clear and well presented, marks may
be reduced for poor presentation. This includes filling your information on
the cover page.
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Students must mention question number clearly in their answer.
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Late submission will NOT be accepted.
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Avoid plagiarism, the work should be in your own words, copying from
students or other resources without proper referencing will result in ZERO
marks. No exceptions.
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All answers must be typed using Times New Roman (size 12, double-spaced)
font. No pictures containing text will be accepted and will be considered
plagiarism.
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Submissions without this cover page will NOT be accepted.
Assignment Question(S):
1. Explain filing status when determining the Amount of Tax.
Answer:
2. Discuss the concepts of accounting, economics, and tax of income
Answer:
3. List five Items of Gross Income
Answer:
4. List five of Major Statutory exclusions from gross income
Answer:
5. Discuss the timing of the allowable medical expense deduction.
Answer: