The Employees of Mauve Accounting Services Are Permitted to Use

question 65

Multiple Choice

The employees of Mauve Accounting Services are permitted to use the copy machine for personal purposes, provided the privilege is not abused. Ed is the president of a civic organization and uses the copier to make several copies of the organization's agenda for its meetings. The copies made during the year would have cost $150 at a local office supply.

• A)Ed must include $150 in his gross income.
• B)Ed may exclude the cost of the copies as a no-additional cost fringe benefit.
• C)Ed may exclude the cost of the copies only if the organization is a client of Mauve.
• D)Ed may exclude the cost of the copies as a de minimis fringe benefit.
• E)None of the above.

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Definitions:

Respiratory Systems

The organs and structures that facilitate gas exchange, allowing organisms to breathe and process oxygen.

Gerontologists

Scientists who study the aging process and the problems that elderly individuals might encounter.

Successful Aging

refers to a multidimensional process involving the maintenance of physical health, mental abilities, social competence, and overall satisfaction with life as one ages.

Centenarians

Individuals who live past 100 years of age.