This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of
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Question:
This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of his long and loyal service, the company awarded Ed a gold watch worth $250 and a $2,000 cash bonus. What amount must Ed include in his gross income?
A. $2,250
B. $2,000
C. $250
D. Zero if Ed offers to contribute his watch and bonus to a qualified charity
E. Zero - all employee awards are excluded from gross income
Related Book For
Global Business Today
ISBN: 978-1259686696
10th edition
Authors: Charles W. L. Hill Dr, G. Tomas M. Hult
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