5.Income accrues to an employee when: Select one: O a advance payment of the income is received by the employee. b. services have been provided by the employee. O c. an employee is entitled to claim the payment from the employer. O d. money is credited to any bank account stipulated by the employee. 6. Jeffery has been employed by FT Ltd since 1 January 2013. He resigned on 30 June 2019 to start his own business. Upon his resignation, he received a sum of $1,000,000 from the employer's ORSO retirement scheme representing his employer's contribution during his period of services. His accrued benefit from the retirement scheme at that time was $1,200,000. His taxable retirement benefit for the year of assessment 2019/20 is: Select one: O a. $220,000. O b. $200,000 O c. $1,000,000. O d. $0. Cherry is working as a manager in Sunshine Holdings Ltd. On 1 August 2018, she was granted an option to acquire 6,000 shares at $5 each, at a cost of $600. On 20 March 2019, she exercised the option to take up the shares and then sold them on the following day. The open market values of shares were as follows: 1 August 2018 $17 20 March 2019 $20 21 March 2019 $21 Her taxable gain on share option for the year of assessment 2018/19 is: Select one: O a. $90,000 O b. $71,400 c. $89,400. d. $95,400. 8. In relation to joint assessment, which of the following statements is UNTRUE? Select one: a. Salaries tax payable will be equally shared between the husband and wife. b. Both the husband and wife must have income chargeable to salaries tax. C. Joint assessment gives rise to tax savings when one spouse has unabsorbed personal allowance. d. The election must be made jointly by the husband and wife