True/False

14- Ms- Clara Caryola, a teacher, received a cash award of $5,000 from the Chamber of Commerce in recognition of her past accomplishments in the field of education. She was chosen without action on her part and is not expected to perform any future service. The $5000 award is the same as any other prize and must be reported by Clara as income in 2018.

15- In 2018, Greta Grady received $ 50,000 in advance payment under a 50-month lease agreement. The $50,000 represent the entire amount due under the lease. There was no restriction on the use or enjoyment of the payments. Greta must include the $50,000 as income in 2018.