Question
Ron, age 42, works for a company that has a nondiscriminatory group-term life insurance plan for its employees. Under the plan, Ron receives $80,000 of
Ron, age 42, works for a company that has a nondiscriminatory group-term life insurance plan for its employees. Under the plan, Ron receives $80,000 of insurance coverage. Ron's share of the group-term life insurance cost for the current year was $27.27. The Uniform Premium Table specifies that the cost for $1,000 of group-term life insurance for one month for a person age 40-44 is $0.10. For this group-term life insurance, Ron's gross income should include:
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Principles of Cost Accounting
Authors: Edward J. Vanderbeck
16th edition
9781133712701, 1133187862, 1133712703, 978-1133187868
