Sarah was permitted to use her employer's vehicle for her vacation. The rental value of...
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Accounting
Sarah was permitted to use her employer's vehicle for her vacation. The rental value of the automobile use was $1,500.
A. The $1,500 is not taxable income, nor economic income because she did not receive cash
B. The $1,500 is not economic income because her net worth did not increase
C. The $1,500 is economic but is not taxable income
D. The $1,500 is economic income and taxable income
E. None of the above
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