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Ber [7]
3 years ago
7

Which of the following characteristics apply to taxable fringe benefits? (Check all that apply.)

Business
1 answer:
EleoNora [17]3 years ago
7 0

Answer:

Employers treat the taxable fringe benefits the same as cash compensation.

Explanation:

Taxable fringe benefits "are included in gross income and subject to federal withholding, social security, and Medicare taxes".

Fringe benefits are "perks and additions to normal compensation that companies give their employees, such as life insurance, tuition assistance, or employee discounts".

* The cost of the taxable fringe benefit is deductible to the employer, not the value of the benefit to the employee.

FALSE,  the taxable fringe benefit is not deductible from the employer.

* Employers treat the taxable fringe benefits the same as cash compensation.

TRUE, and as we can see on the definition above the taxable fringe benefits are treated as a compensation that comapnies giv their employees.

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A firm negotiates a(n) _________ with its bank. This arrangement gives the firm access to a specified amount of unsecured short-
Vesna [10]

Answer:

<u>Line of credit </u>

Explanation:

A line of credit refers to a mechanism of availing short term credit from banks whereby a borrower is provided with a preset limit till which funds can be availed anytime.

As the borrower repays the money borrowed, the line of credit gets restored to the previous level provided it is an open line of credit.

Line of credit specifies the maximum limit till which money can be borrowed. The rate of interest and repayment time period are decided by the lender which is usually a bank.

Borrower is usually supposed to pay interest upon the money actually borrowed and not the full limit of the line of credit.

7 0
3 years ago
You work for an accounting firm. Just last week the state legislature passed reforms to the state tax code. The revised tax code
kolezko [41]

A summary is simply known as a short explanation of a work's content. The type of short informational report that I have been asked to write is a summary.

A summary report can consist of;  

  • The author's major supporting ideas.
  • They show the author's purpose in writing etc.

A summary often start with an introductory sentence that talks about the text's title, author and main point of the text as you see it.

A summary is often written in your own words and it should have the ideas of the original text.

Learn more from

brainly.com/question/17180048

3 0
2 years ago
Ralph is single and has the following items for the current year:
scoray [572]

Answer:

B

Explanation:

$10,000 - [$6,000 + ($9,000 - $3,000)] = ($2,000). Therefore, nothing is added back.

3 0
3 years ago
Which of the following is a benefit to corporate executives when a process is outsourced?
love history [14]

Answer:

<h2>In this case,the correct answer would be option b) given in the answer choices or More time to explore new revenue generation activities.</h2>

Explanation:

  • From an economic or business perspective, outsourcing of operational activities or conducts refer to assigning the business functions, activities, projects, assignments etc. to any third party or external agency with a view to enhance work productivity and minimize overall average operational costs or expenses.
  • The third party or the external entities involved in the outsourcing activities are typically not part of the parent or main company or are not commercially affiliated with the parent or main company.
  • One of the advantages of outsourcing to the company executives is to be able to assign some of the major and time consuming business activities to outsourced companies or entities and focus more on other mediums or sources of revenue generation for business. It might include introduction of new product or service lines, restructuring of the internal organizational settings or venturing new markets to capture higher consumer or client base. Hence, higher work or labor division through outsourcing activities can provide more time and opportunity for executives to focus more on other revenue generating endeavors.
5 0
3 years ago
You deposit $300 in a bank account that earns 4ompound interest annually. what is the value of your $300 in 10 years?
Sunny_sXe [5.5K]

You deposit $300 in a bank account that earns 4% compound interest annually. $444 is the value of your $300 in 10 years.

Compound interest happens whilst interest gets added to the primary amount invested or borrowed, after which the hobby rate applies to the new (large) principal. it's essential interest in the hobby, which over the years ended in the exponential boom.

Compound interest is while you upload the earned hobby lower back into your important stability, which then earns you even extra interest, compounding your returns. shall we say you have got $1,000 in a savings account that earns 5% in annual interest. In 12 months, you would earn $50, giving you a brand new balance of $1,050.

Learn more about Compound interest here: brainly.com/question/2455673

#SPJ4

5 0
1 year ago
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