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1) The IRS allows the exclusion of the value of meals from the employees gross income: A. Whenever the employer pays for the meal and

1) The IRS allows the exclusion of the value of meals from the employees gross income:

A.

Whenever the employer pays for the meal and for the convenience of the employee.

B.

When the meals are provided for the employee on the employers premises for the convenience of the employer.

C.

When the meals are provided for the employee on the employers premises for the convenience of the employee.

D.

When the meals are provided for the employee on the employers premises as a convenience to the employee.

E.

Some other answer.

2) Which of the following types of interest income are taxable for Federal income tax purposes?

A.

Interest on life insurance proceeds that the beneficiary elected to receive in installments over a 10-year period.

B.

some other answer.

C.

Interest on Los Angles City School bonds.

D.

Interest on the City of New Orleans bonds.

E.

Interest on State of Kansas bonds.

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