Miranda Is Not a Key Employee of AB Corporation

question 99

Multiple Choice

Miranda is not a key employee of AB Corporation.AB provides Miranda with group term life insurance coverage of $140,000.The premiums attributable to the excess coverage are $1,300.The uniform one-month group-term premium is one dollar per $1,000 of coverage.How much must Miranda include in income?

• A)$0
• B)$1,080
• C)$1,300
• D)$1,680

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Definitions:

Ladder Logic

A graphical programming language used to develop software for programmable logic controllers (PLCs) that resembles an electrical schematic of relay logic.

Parallel Connections

Refers to multiple network or circuit connections that operate simultaneously alongside each other, sharing the load or data.

Branches

Instructions within a programming or control logic context that cause the execution flow to diverge based on certain conditions.

Output Instruction

In PLC programming, an Output Instruction is used to control the state of an output based on the logic implemented in the program.