Mr. Nassir works as a sales agent in an insurance company and is responsible for selling life insurance. Mr. Nassir's basic salary is OMR 500 per month. However, as per his employment contract, he receives an extra income of OMR 30 for every life insurance he sells. This makes his total salary significantly different from his basic salary. This extra income belongs to which of the following categories? Illegal income Deduction Fringe benefit Incentive
Mr. Nassir works as a sales agent in an insurance company and is responsible for selling life insurance. Mr. Nassir's basic salary is OMR 500 per month. However, as per his employment contract, he receives an extra income of OMR 30 for every life insurance he sells. This makes his total salary significantly different from his basic salary. This extra income belongs to which of the following categories? Illegal income Deduction Fringe benefit Incentive
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 28P
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Question
Mr. Nassir works as a sales agent in an insurance company and is responsible for selling life insurance. Mr. Nassir's basic salary is OMR 500 per month. However, as per his employment contract, he receives an extra income of OMR 30 for every life insurance he sells. This makes his total salary significantly different from his basic salary.
This extra income belongs to which of the following categories?
Illegal income
Deduction
Fringe benefit
Incentive
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT