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QUESTION 47 When does Section 119 exclude from income the value of meals provided to the employees? the meals are provided by the employer .
QUESTION 47 When does Section 119 exclude from income the value of meals provided to the employees? the meals are provided by the employer . the meals are listed on the employer's preme cIf the meals are furnished for the convenience of the employer. d If none of the above (a,b,c) is true If all of the above (ab,c) are true QUESTION 4B Mun has been a night watchman Burgundy Company for 10 years. During this year he received the following benefits from Burgundy Company $15.000 Hospitalization premiums $ 3.600 Required lodging on Burgundy's presies for Burgundy's convenience as a condition to Hun's employment Reward for preventing a break in What amount is indudible in Hun's gross income for this year? $17,400 $15,000 $18,600 od $22,000 $16,000 QUESTION 49 Pegay is an executive for the Tan Furniture Manufacturing Company This year, Peggy purchased furniture from the company for $5,000, the price Tan ordinarily charges a wholesaler. The retail price of the future was $12,000. The company also paid for Pego's parking space in agwage near the office. The parking toe was $1,200 for the year. All employees are allowed to buy Burntare at the manufacturer's price. However, the company does not pay other employees' parking foes Peggy's gross income from the above is 4 $8,200 $0 $7,000
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