Which of the following statements is/are correct?
I.Danny falls off a ladder at work and is hospitalized for two weeks. He receives $650 from the state worker's compensation fund, his regular $1,800 salary, and $925 disability pay from his employer's health and accident insurance plan. Danny must recognize $2,725 of income from the payments.
II.Donna's grandfather dies and leaves her City of Goldsboro bonds that are worth $57,000. The bonds have a face value of $50,000 and pay 5% annual interest. Donna must include the $2,500 of interest she receives in her gross income.

Question

Which of the following statements is/are correct?
I.Danny falls off a ladder at work and is hospitalized for two weeks. He receives $650 from the state worker's compensation fund, his regular $1,800 salary, and $925 disability pay from his employer's health and accident insurance plan. Danny must recognize $2,725 of income from the payments.
II.Donna's grandfather dies and leaves her City of Goldsboro bonds that are worth $57,000. The bonds have a face value of $50,000 and pay 5% annual interest. Donna must include the $2,500 of interest she receives in her gross income.
​

Quizplus · Accepted Answer

The Answer of Which of the following statements is/are correct?
I.Danny falls off a ladder at work and is hospitalized for two weeks. He receives $650 from the state worker's compensation fund, his regular $1,800 salary, and $925 disability pay from his employer's health and accident insurance plan. Danny must recognize $2,725 of income from the payments.
II.Donna's grandfather dies and leaves her City of Goldsboro bonds that are worth $57,000. The bonds have a face value of $50,000 and pay 5% annual interest. Donna must include the $2,500 of interest she receives in her gross income.
​

Which of the Following Statements Is/are Correct