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David has been diagnosed with cancer and is expected to live less than 18 months.David is covered by a life insurance policy with a $400,000 face amount.David cashes in the policy early under a special option and receives 80% of the face amount or $320,000.In the year of collection,David will report
Medical Assistant
A healthcare professional who supports doctors and nurses by performing administrative and clinical tasks.
Radiology
A medical discipline that uses imaging technologies such as X-rays, CT scans, MRI, and ultrasound to diagnose and sometimes treat diseases.
Radioactive Substances
Materials that emit radiation, which is energy in the form of particles or waves, as a result of the decay of atomic nuclei.
X-rays
A form of electromagnetic radiation that can pass through most objects, including the body, used mainly for diagnostic imaging in medicine.
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