Recognition of past accomplishments in field of education

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Reference no: EM13154849

Ms. Clara Crayola, a teacher, received a cash award of $5,000 from the Chamber of Commerce in recognition of her past accomplishments in the field of education. She was chosen without action on her part and is not expected to perform any future services. The $5,000 award is the same as any other prize and must be reported by Clara as income this year?

Reference no: EM13154849

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