Q$23$ Which of these statements regarding the income tax doctrines that apply to nonqualified deferred compensation plans is CORRECT?

I. If constructive receipt occurs, the executive must report the funds that are constructively received as taxable income.

II$.$ The economic benefit doctrine does not apply if the funds placed in a nonqualified plan remain subject to potential attachment by the employer's general creditors.

a$.$ Neither I nor II$.$

b$.$ I only.

c$.$ II only.

d$.$ Both I and II$.$