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dem82 [27]
3 years ago
14

Determine the gross income of the beneficiaries in the following cases:

Business
1 answer:
olga nikolaevna [1]3 years ago
8 0

Answer:

1. Justin’s employer was downsizing and offered employees an amount equal to one year’s salary if the employee would voluntarily retire.

  • the compensation is included in Justin's gross income.

2. Trina contracted a disease and was unable to work for six months. Because of her dire circumstances, her employer paid her one-half of her regular salary while she was away from work.

  • the compensation is included in Trina's gross income.

3. Coral Corporation collected $1,000,000 on a key person life insurance policy when its chief executive died. The corporation had paid the premiums on the policy of $77,000, which were not deductible by the corporation.

  • the benefits are included in the company's taxable income, but the premiums paid are deductible

4. Juan collected $40,000 on a life insurance policy when his wife, Leona, died in 2020. The insurance policy was provided by Leona’s employer, and the premiums were excluded from Leona’s gross income as group term life insurance. In 2020, Juan also collected the $3,500 accrued salary owed to Leona at the time of her death.

  • the life insurance policy proceeds are not taxable, but the accrued salaries are taxed

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grin007 [14]

Answer:

a.The simple ranking method.

Explanation:

From The given scenario is based on the simple Ranking method which is the simplest method of Appraisal under which every employee is compared with the others and ranked from best to worst.

4 0
3 years ago
If a beneficiary is enrolled in a ma-only hmo and they also sign up for a pdp plan, they will be automatically dropped from thei
sveticcg [70]

It is True that if a beneficiary is enrolled in a Medicare Advantage plan and they also sign up for a pdp plan, they will be automatically dropped from their Medicare Advantage (ma) plan.

<h3>Medicare Advantage (MA)</h3>

A Medicare Advantage plan is a type of health plan proposed by a private company that leases with Medicare to provide you with all your Medicare Parts A and B benefits. MA plans contain health maintenance organizations, selected provider organizations, personal fee-for-service plans, and Special Needs Plans.

<h3>Medicare Advantage Plans</h3>
  • Health Maintenance Organization (HMO) Plans.
  • Preferred Provider Organization (PPO) Plans.
  • Private Fee-for-Service (PFFS) Plans.
  • Special Needs Plans (SNPs)

Original Medicare contains Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). You can bind a separate Medicare medicine plan to get Medicare medication coverage (Part D).

To learn more about the Medicare Advantage visit the link

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6 0
1 year ago
Suppose that over the past year, the nominal interest rate was 5 percent, the CPI was 150.3 at the end of the year, and the CPI
makvit [3.9K]

Answer:

The correct answer is option c.

Explanation:

The nominal interest rate was 5 percent.

The CPI was 150.3 at the end of the year, and the CPI was 144.2 at the beginning of the year.

The 5% nominal interest rate means that the dollar value of savings increased at 5%.

Inflation rate

= \frac{(150.3 - 144.2)}{144.2}

= 0.0423 or 4.2%

The real interest rate

= Nominal interest rate - rate of inflation

= 5 - 4.2

= 0.8%

The real interest rate of 0.8% indicates that the purchasing power of savings increased at 0.8%.

3 0
3 years ago
In your own words what is demand
Step2247 [10]

Answer:

telling somone to a specifc thing. it can be good or bad

Explanation:

7 0
3 years ago
What is business office ? why is it established . Give 8 reason​
jarptica [38.1K]

Answer:

Hope it helps

Mark my answer brainliest

5 0
3 years ago
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