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6. Smith, a candidate for a graduate degree, received the following funds from the university in - $10,000 scholarship to cover tuition, fees, and books;
6. Smith, a candidate for a graduate degree, received the following funds from the university in - $10,000 scholarship to cover tuition, fees, and books; $2,000 stipend for research services he performed during the year. What amount of these awards should be included in Smith's gross income for the current year? a. $12,000 b. $10,000 c. $2,000 d. $0 000,02 008.18 5
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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner
10th Edition
0072316373, 978-0072316377
