An employer provides all of his employees with life

Reference no: EM13580945

An employer provides all of his employees with life insurance protection equal to twice the employee's annual salary. Melba, who is 45, has an annual salary of $60,000. Is Melba required to recognise income even though she is still alive at the end of the year and thus nothing has been collected on the life insurance policy? Explain.

Reference no: EM13580945

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