Q$11$ Which of the following statement$($s$)$ regarding phantom stock plans is CORRECT?

I. These plans provide for adjustments to the fictional entries to track the real appreciation of the corporation's common stock.

II$.$ At some event $($usually retirement$),$ the theoretical investment, valued to reflect cumulative gains and losses, is paid to the employee or the employee's designated beneficiaries.

a$.$ I only.

b$.$ Neither I nor II$.$

c$.$ II only.

d$.$ Both I and II$.$