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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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Copper Corporation, a calendar year C corporation, owns stock in Bronze Corporation and has net operating income of $900,000 for
UNO [17]

Answer: $150,000

Explanation:

The Dividend Received Deduction is a Federal tax deduction that applies when a related company pays dividends to another company that owns part of it.

The relevant provision is that when a company owns more than 80% of the company receiving the Dividend, the Dividend Received Deduction amounts to 100% of dividends received.

Cooper Corporation may therefore claim a deduction of $150,000 being the total amount as they own 85% of Broze Corporation Stock.

7 0
2 years ago
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There are four functions of management: planning, leading, organizing and controlling. The controlling function of management is
Fantom [35]

Answer: True

Explanation:

Proper planning without control is futile, this is because a blue print may have been put in place in the planning process but it becomes imperative for management to set up institutions or machineries to ensure that plans are executed as expected and there are remedial actions or plans in place in the event when unexpected events come up to distort achievement of the goal.

Proper control leads to achievement of organizational goals.

6 0
3 years ago
Product, price, promotion, and place make up the __________.
vivado [14]

Answer:

d. Marketing Mix

Explanation:

<em>Target Market</em> is the group of people with specific problem and seeking a solution and ready to spend on it.

<em>Market Segment </em>is dividing a market into sub sets of consumers, businesses or countries who have common needs.

<em>Market Position </em>is organizing for a product by clear minds of target customer relative to competing products.

<em>Marketing Mix </em>is the combination of four P's: Product, Price, Promotion and Place.

8 0
2 years ago
Carla VistaInc. leased a new crane to Martinez Construction under a 5-year, non-cancelable contract starting January 1, 2020. Te
Marrrta [24]

Answer:

Lessee's Entries:

Rent expense (Dr.) $45,500

Cash (Cr.) $45,500

Lessor's Entries:

1. Property Tax expense (Dr.) $2,000

Maintenance and Repair Expense (Dr.) $650

Insurance Expense (Dr.) $500

Accounts Payable (Cr.) $3,150

2. Depreciation Expense (Dr.) $ 29,285

Accumulated  Depreciation (Cr.) $29,285

3.Cash (Dr.) $45,500

Rent Revenue (Cr.) $45,500

Explanation:

The lease is considered as an operating lease as it does not have bargain purchase option and renewal options. The property ownership is not transferred in this lease.

Depreciation expense:

[ Cost - Salvage Value ] / 7

220,000 - 15000 / 7

4 0
2 years ago
What is consumer demand?
VladimirAG [237]
The correct answer is A!
3 0
2 years ago
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