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

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Definitions:

Basilar Membrane

A key structure in the cochlea of the inner ear, it vibrates in response to sound, playing a critical role in the mechanical to neural transduction of sound.

Cochlea

A spiral-shaped cavity of the inner ear that plays a key role in converting sound waves into electrical signals for the brain to interpret as sound.

Ossicle

Small bones in the middle ear that transmit sound vibrations from the eardrum to the inner ear.

Perceptual Constancy

The ability of the perceptual system to recognize objects as having consistent shape, size, and color despite changes in perspective, distance, or lighting.