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Personal income includes income received in the form of transfer payments
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- Repayment of loan with interest is a capital expenditure True/FalseThe income received by persons from all sources in the form of factor income and current transfer payment is known as?Net interest is the interest paid out by US households and the government minus the interest income they received. True False
- A3One reason that the division of income (loss) is reported at the bottom of the income statement is to provide the information for recording a closing entry. Question 15 options: True FalseIt is the periodic compensation for the use of money; the amount of money paid for the use of borrowed capital. Annuity due Interest rate Interest Present worth