Question

Which of the following benefits cannot be excluded as a no-additional-cost service fringe benefit? Multiple Choice...

Which of the following benefits cannot be excluded as a no-additional-cost service fringe benefit?

Multiple Choice

  • Free tax return preparation from a client.

  • Complimentary dry cleaning for employees at a laundry company.

  • A car wash at an automobile dealership.

  • Free local phone service for phone company employees.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

OPTION: Free tax return preparation from a client.

EXPLANATION:

Free tax return preparation from a client cannot be excluded as a no-additional-cost service fringe benefit.

Add a comment
Know the answer?
Add Answer to:
Which of the following benefits cannot be excluded as a no-additional-cost service fringe benefit? Multiple Choice...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 1. Which of the following payments is not a taxable benefit to the employees? Multiple Choice...

    1. Which of the following payments is not a taxable benefit to the employees? Multiple Choice Premiums for group term life insurance. Gym membership fees to improve the employee's general health and job performance. Public transit pass costs for the employee to get to and from work. Physical health counselling services fees. 2. An employer paid the following amounts for the employee: preparation of personal tax return, to minimize stress ($300); laptop computer to use at work and at home...

  • The following scenarios deal with various general fringe benefits. From the dropdown list, select the correct...

    The following scenarios deal with various general fringe benefits. From the dropdown list, select the correct amount which will be excluded from or included in gross income. a. Jim is an employee of Fast Tax Prep, Inc. All employees of Fast Tax Prep are eligible for a 50% discount on the preparation of their income tax returns. Jim's tax return preparation would normally have cost $300, but he paid only $150 because of the discount. $60 excluded from gross income...

  • Accounting Question (Fringe Benefits) You are the Tax Director of a large public company. The CFO...

    Accounting Question (Fringe Benefits) You are the Tax Director of a large public company. The CFO is very frugal and is looking for fringe benefits that will be viewed favorably and provide incentives to employees and executives, but perhaps not cost the company very much. A consultant has provided the CFO a list of the following possible employee fringe benefits, and has claimed that all the benefits are tax free to the employee and deductible to the company. (He does...

  • Multiple choice Multiple-choice questions 60. A cost object cannot be: a a geographic region b. a...

    Multiple choice Multiple-choice questions 60. A cost object cannot be: a a geographic region b. a customer c. a department d. none of the above, i e. all can be cost objects LO 1 61. Which of the following is least likely to be a cost object for a car manufacturer a. Human Resources Department b. Assembly Division c. Gordon Lee - a part time employee in the cafeteria d. Charlie's Car Company- a long term customer LO I 62....

  • Question 5 Which of the following is a taxable benefit? Question 5 options: 1) Subsidized meals...

    Question 5 Which of the following is a taxable benefit? Question 5 options: 1) Subsidized meals offered to all employees of the company assuming the price is approximately equal to the cost. 2) Payment of the tuition for an employee completing a degree that will benefit the employer. 3) A 20% discount on the cost of a newly constructed house. 4) A Christmas gift to an employee from the employer valued at $450. Question 6 Which of the following statements...

  • MULTIPLE CHOICE 1) Which of the following is NOT an investment as defined in the text?...

    MULTIPLE CHOICE 1) Which of the following is NOT an investment as defined in the text? A) a certificate of deposit issued by a bank B) a new automobile C) a United States Saving Bond D) a mutual fund held in a retirement account 2) Which of the following is NOT traded in the securities markets? A) stocks B) bonds C) derivatives D) real estate 3) The governmental agency that oversees the capital markets is the A) Federal Trade Commission....

  • Zipcar: “It’s Not About Cars—It’s About Urban Life” Imagine a world in which no one owns...

    Zipcar: “It’s Not About Cars—It’s About Urban Life” Imagine a world in which no one owns a car. Cars would still exist, but rather than owning cars, people would just share them. Sounds crazy, right? But Scott Griffith, CEO of Zipcar, the world’s largest car-share company, paints a picture of just such an imaginary world. And he has nearly 800,000 passionate customers—or Zipsters, as they are called—who will back him up. Zipcar specializes in renting out cars by the hour...

  • TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...

    TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....

  • 13) The cost the Almy type of market 7) The market is an example of A)...

    13) The cost the Almy type of market 7) The market is an example of A) mattress: a monopoly B) com a perfectly competitive C) car insurance an oligopoly D) cell phone; a perfectly competitive 5) airplane manufacturing a monopolistically competitive 8) What is the difference between perfect competition and monopolistic competition? A) Perfect competition has a large number of small firms while monopolistic competition does not in monopolistic competition, firms produce identical goods, while in perfect competition, firms produce...

  • Fraud at Berry, CPA’s BERRY, CERTIFIED PUBLIC ACCOUNTANTS Brief History of the Firm In 1999, John...

    Fraud at Berry, CPA’s BERRY, CERTIFIED PUBLIC ACCOUNTANTS Brief History of the Firm In 1999, John Berry graduated from college with an accounting degree. After 10 years at an international accounting firm, John decided to start his firm, Berry, CPA’s. The firm, located in Oakwood, caters to local clients; specifically, John and his staff of four professionals specialize in non-public companies. The majority of the services provided by Berry, CPA’s are tax planning and preparation; however, the firm also performs...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT