Richard Is a Key Employee of Winn Corporation

question 4

Multiple Choice

Richard is a key employee of Winn Corporation.The corporation provides Richard with $120,000 of group-term life insurance coverage.Only company executives receive life insurance coverage.The premium attributable to the coverage is $1,600.The uniform one-month group-term premium is one dollar per $1,000 of coverage.How much must Richard include in income due to the policy?

• A)$0
• B)$840
• C)$1,440
• D)$1,600

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Definitions:

Organizational Culture

The collective norms, ideologies, and habits that form the cultural and mental framework of a company or institution.

Glass Cubicles

Transparent, often partitioned workspaces used in offices to create semi-private areas for employees.

Values

The principles or standards of behavior that are regarded as important or beneficial by an individual or society.

Coercive Power

The ability to influence others' behavior via threats, punishment, or negative reinforcements.