Martha Invested $6,000 in a Qualified Tuition Program for the Benefit

question 94

Multiple Choice

Martha invested $6,000 in a qualified tuition program for the benefit of her son.Four years later her son withdrew $8,000, the entire balance in the program, to pay his college tuition.

• A)Martha is not required to include the $2,000 ($8,000 - $6,000) in her gross income when the funds are used to pay the tuition.
• B)Martha's son must include the $2,000 ($8,000 - $6,000) in his gross income when the funds are used to pay the tuition.
• C)Martha must include $8,000 in her gross income.
• D)Martha's son must include $8,000 in his gross income.
• E)None of these.

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Definitions:

Movement Behaviours

The actions and activities associated with physical movement, including all forms of motion and activity by individuals or objects.

Personnel Supply

Refers to the available pool of workers from which an organization can recruit or select to meet its employment needs.

Vacancy Model

A theoretical framework used to explain the dynamics of job vacancies within an organization, often focusing on the causes and effects of these vacancies.

Top-Down

A management style or approach where decisions are made at the highest levels of the organization and then transmitted down the hierarchy.