1191 In February of the current year, Jane reseived a $7,000 scholarship for the

Question

1191 In February of the current year, Jane reseived a $7,000 scholarship for the spring semester at State University where she is a candidate for a degree. The scholarship was for the following: Room and board Payment for being a teaching assistant $2,000 2,500 2,000 500 Tuition Books and supplies The services Jane provided as a teaching assistant are a condition of receiving the grant and are required of all candidates for the degree. Assuming all other conditions are met, what amount must Jane include in her current-year gross income? A. $2,000 B. $2,500 C $4,000 D. $4,500

Explanation / Answer

ANSWER: D = $4500

NOTES:

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