Kristine Is the Controller of Evans Company

question 66

Multiple Choice

Kristine is the controller of Evans Company. Evans provides all management level employees with medical insurance through a self-insured plan. During the current year, Kristine has $2,650 in medical expenses reimbursed by the plan. The income tax effect of the reimbursements Kristine receives is:
I.Kristine excludes the value of the reimbursement.
II.Kristine includes $2,650 in her gross income.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Time-Out

A behavioral intervention technique that involves temporarily removing an individual from an environment where undesired behavior has occurred, to decrease the likelihood of the behavior's recurrence.

Make-Up Exam

A test or examination given to a student who missed the original date, providing an opportunity to make up for the missed assessment.

Extra Credit

Additional points or marks given to students beyond the required assignments, often used as an incentive to encourage further learning or participation.

Negative Reinforcement

The strengthening of a behavior because it removes or diminishes a negative outcome.