Which of the Following, When Provided by an Employer, Is

question 1

Multiple Choice

Which of the following, when provided by an employer, is NOT a tax-deferred or tax-free benefit for the employee?

• A) A near-cash gift for the employee's wedding.
• B) Counselling services to prepare the employee for retirement.
• C) Contributions to the employee's registered pension plan.
• D) Premiums for private health care plans.

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Definitions:

Invoice Terms

The conditions stipulated on an invoice, including payment due date, discount opportunities for early payment, and penalties for late payment.

n/30

Payment terms indicating the net amount is due in full within 30 days.

Estimated Returns Inventory

A current asset that is reported on the balance sheet after inventory.

Adjusting

The process of making entries to correct accounts or to account for accruals and deferrals in the accounting cycle.