In Which of the Following Entities May an Owner-Employee Benefit

question 29

Multiple Choice

In which of the following entities may an owner-employee benefit from all employee tax-free fringe benefits?

• A)C corporation
• B)S corporation
• C)Partnership
• D)Sole proprietorship

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Definitions:

Targeted Areas

Specific geographic or thematic areas identified for focused intervention or study.

Hormones

Chemical messengers produced by the endocrine glands that travel through the bloodstream to target organs or tissues, influencing various bodily functions.

Humoral Immunity

One of the three general categories of immune response, in which invading antigens are presented by macrophages to B-lymphocytes. (“B” stands for bursa, an organ in which such cells are produced in birds. B-lymphocytes derive from the liver and bone marrow in humans.) This causes the B-cells to reproduce—a process reinforced by the lymphokine secretion from the helper T-cells. Some of the activated B-cells remain as memory B-cells. Others go on to be plasma cells, secreting antibodies called immunoglobulins that neutralize antigens in a number of different ways, such as clumping, presenting the antigen to phagocytic cells, or rupturing the antigen.

Macrophages

A type of white blood cell that engulfs and digests cellular debris, foreign substances, microbes, and cancer cells in a process called phagocytosis.