Question

Marc is a university student seeking a degree in international business. He has received a scholarship for $6,000. This income was used as follows: Tuition and fees $2,400 Room and board $3,600 ​ How much of the $6,000 is included in gross income

Answer 1

Answer and Explanation:

It has been given that Marc receives a scholarship of $6,000 out of which he pays a tuition fee of $2,400 and $3600 for his room rent and board expenses.

The value of the tuition fee will be deducted and $3,600 will be considered as Marc's gross income.

Gross income for Marc = $6,000 - $2,400

Gross income for Marc = $3,600