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

---

Definitions:

Population Means

The average values of multiple populations, each calculated by adding all members of each population and then dividing by the number of members in that population.

Goblet Cells

Specialized, mucus-producing cells found in the respiratory and intestinal tracts, which help to protect and lubricate the surfaces.

Pseudostratified Epithelium

A type of tissue lining some internal organs and passages, appearing as multiple layers but actually consists of a single layer of irregularly shaped cells.

Simple Columnar Epithelium

A single layer of tall, closely packed cells, aligned in a row, found in areas such as the digestive tract, where they play roles in absorption, secretion, and protection.