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In: Accounting

true or false The value of noncash "gifts" in de minimis amounts to bank customers, tote...

true or false

The value of noncash "gifts" in de minimis amounts to bank customers, tote bags for
example, to induce customers to add to existing bank accounts are excluded
from the recipients' gross income.
The fair market value of property received as a result of a bartering transaction must be
included in the recipient's gross income.

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