9. Mel was the beneficiary of a $45,000 group term life insurance policy on his deceased wife. His

wifes employer has paid all of the premiums on the policy. Mel used the life insurance proceeds to

purchase a U.S. government bond, which paid him $2,500 interest during the current year. Mels

Federal gross income from this is $2,500.

a. True

b. False

10.Ashley received a scholarship to be used as follows: tuition, $6,000; room and board, $9,000; and books and laboratory supplies, $2,000. Ashley is required to include only $9,000 in her gross

income.

a. True

b. False