Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Multiple Choice 2 - 1 4 Employee Fringe Benefits ( LO 2 . 5 ) Which of the following is a fringe benefit excluded from
Multiple Choice
Employee Fringe Benefits LO
Which of the following is a fringe benefit excluded from income?
a AlfaBet, a hightech corporation, pays for each employee's membership at the Hour Biceps Gym closest to each AlfaBet office.
b Quickchat Inc. gives each employee a $ giftcard to the local coffee shop on National Coffee Day.
c Hedaya, a doctoral student at Ivy University, receives a full tuition waiver while serving as research assistant.
d A mechanic at Denise's employer, a car rental company, provides $ of repair services to Denise's personal car for free.
Feedback
Check My Work
The tax law provides that all fringe benefits must be included in the employee's gross income, unless specifically excluded by law. Some of the
and working condition fringe benefits.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started