NeNe Is an Accountant and U

question 98

Multiple Choice

NeNe is an accountant and U.S.citizen,who has accepted a permanent position in Madrid,Spain for a Spanish financial services company.This year,NeNe spent the entire year working in Madrid.NeNe's employer paid $40,000 of her Madrid housing expenses this year.What amount of the $40,000 housing payments may NeNe exclude?

• A)NeNe can exclude all of the housing payment because she worked more than 330 days overseas
• B)$16,624
• C)$23,376
• D)$14,546
• E)None of her salary can be excluded from gross income.

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Definitions:

High Point

The highest value or peak that an economic indicator or a market index reaches over a specific time period.

Capital Goods

Long-lasting goods used in the production of other goods or services, such as buildings, machinery, and equipment.

Money Supply

This refers to the total amount of monetary assets available in an economy at a specific time.

Inflation Rate

The pace at which prices for goods and services across the board escalate, resulting in the diminishing value of money.