Sally received $60,000 of compensation from her employer and she received $500 of interest from a corporate bond. What is the amount of Sally's gross income from these items?
A)$0.
B)$500.
C)$60,000.
D)$60,500.

Question

Quizplus · Accepted Answer

Sally's gross income is the total amount of income she received before any deductions or taxes. Therefore, her gross income is the sum of her compensation and interest income which is $60,000 + $500 = $60,500. Therefore, choice (D) is correct.

Sally Received $60,000 of Compensation from Her Employer and She