John is injured and receives $16,000 of income from a disability policy. John's employer paid 75% of the disability policy premiums and John paid the remainder. In addition, John's employer has paid all the $3,000 of premiums on a health policy that paid John's doctor bills of $10,000. How much of the benefits must John include in income?

A. $16,000
B. $10,000
C. $12,000
D. $3,000


Answer: C

Business

You might also like to view...

The volume of transactions affected is one of the critical criteria in assessing identified internal control deficiencies

a. True b. False Indicate whether the statement is true or false

Business

If you have received a job offer from another firm and don't want to accept before you have an answer from the first firm, what might be an appropriate action?

A) Delay the second firm as long as possible B) Call the first firm and demand an immediate decision C) Use the offer as leverage for a higher starting salary D) Send a message of inquiry explaining the situation E) Accept the offer and quit if the first offer comes through

Business

The sale of branded products through legal but unauthorized distribution channels is referred to as the

A. red market. B. gray market. C. black market. D. white market. E. blue market.

Business

Specific disease and accident insurance policies are usually

A) good buys, providing specific coverage at a low cost. B) expensive but desirable components of your health care coverage. C) poor buys, duplicating coverage provided by more necessary comprehensive insurance. D) recommended by financial planners for those with low incomes.

Business