"Which of the following accurately describes the accounting treatment of employee benefits under Accounting Standards Codification $($ASC $715/$IAS $19)?$

A$)$ Employee benefits are expensed as they are paid out to employees.

B$)$ Employee benefits are recognized as a liability on the balance sheet and are expensed over the employees' service period.

C$)$ Employee benefits are only disclosed in the footnotes of financial statements and do not impact the balance sheet or income statement.

D$)$ Employee benefits are recognized as revenue when earned by employees and are expensed when paid out."