MsMarple's Books and Records for 2019 Reflect the Following Information

question 122

Multiple Choice

Ms.Marple's books and records for 2019 reflect the following information: $$\begin{array} { | l | r | } \hline \text { Salary earned this year } & \$ 65,000 \\\hline \text { Interest on savings account (credited to her account in } & \\2019 , \text { withdrawn in 2020) } & 1,000 \\\hline \text { Interest on county bonds earned and collected in 2019 } & 2,000 \\\hline\end{array}$$ What is the amount Ms.Marple should include in her gross income in 2019?

• A)$66,000
• B)$67,000
• C)$68,000
• D)$65,000

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Definitions:

Fair Value

The estimated market value of an asset, based on current prices in an open and competitive market.

Stock Option Plan

A scheme offered by a company to its employees, allowing them to purchase company shares at a predetermined price after a set period.

Paid-In Capital

The amount of money that a company has received from shareholders in exchange for shares of stock.

Fair Value

An estimate of the market value of an asset or liability based on current market prices or valuations.