Early in the Year,Marcus Was in an Automobile Accident During

question 9

Multiple Choice

Early in the year,Marcus was in an automobile accident during the course of his employment.As a result of the physical injuries he sustained,he received the following payments during the year: What is the amount that Marcus must include in gross income for the current year?

• A)$20,000.
• B)$13,000.
• C)$7,000.
• D)$6,000.
• E)$0.

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Definitions:

Implied Warranty Of Trade Usage

An assurance, inferred in the context of certain UCC sales, depending on the circumstances, that can be created through a well-accepted course of dealing or trade usage.

Soda Pop

A sweetened carbonated beverage, commonly known as soda or soft drink.

Cartons

Containers or boxes, typically made from cardboard or plastic, used for transporting or storing goods.

Crisis Management

The process by which a business or organization deals with a disruptive and unexpected event that threatens to harm the organization or its stakeholders.