TON 24 Gross Income includes: a Cash received for services provided. b. Services received for services provided. Oc. All of the above. od Property received for services provided. QUESTION 25 Vem works for "Winkelman Hotel and Resorts" as a manager for a NYC hotel. Besides owning the resorts, Winkelman also owns "Winkelman Airlines". Vem has a sick mother in Florida. The airline regularly flies to Florida and usually has 10 empty seats. Normal cost of the flight is $400. The airline offers to fly Vern to Florida for free on a standby basis. Vem: a Does not have to recognize income because it is a "Qualified Employee Discount". b. Do not have to recognize income because it is a "No additional cost service." c. None of the above. od Has to recognize $400 as income because it does not qualify as a "No additional cost service". QUESTION 26 Best Buy will sell the new i-phone to employees for $500. The cost to Best Buy is $400. It will sell the phone to the public at a cost of $700. Income recognized to an employee who utilizes the discount is: O a $300. O b. None of the above. OcSo. Od 100. e $200. QUESTION 27 Best Buy will sell service contracts on the new i-phone at a cost of $100 to the public. It will sell the same service contract/warranty to employees at a cost of $50. Income recognized to an employee who purchases the contract is: O a $50. O b. $0. O c $30. O d. $100