--- Non-qualified compensation plans have:

No required discrimination testing.

Higher administrative costs than other plans.

Less design flexibility than other plans.

Limited testing to determine taxation of benefits.

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Which of the following characteristics apply to equity-based compensation? I. Solves an agency conflict between management and the owners II. Provides the company with a current tax deduction III. A good idea for a start-up company

Group of answer choices

I and III only

I only

III only

I and II only