Evaluate the Following Statements: I

question 74

Multiple Choice

Evaluate the following statements: I.De minimis fringe benefits are those that are so immaterial that accounting for them is impractical.
II) De minimis fringe benefits are subject to strict antidiscrimination requirements.
III) Generally, a fringe benefit of less than $50 is considered de minimis and can be excluded from gross income.

• A)Only I is true.
• B)Only III is true.
• C)Only I and III are true.
• D)I, II, and III are true.
• E)None of these.

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Definitions:

Superficial

Describing an approach or level of understanding that is only concerned with surface aspects or appearances, lacking depth and thoroughness.

Economic Recessions

Periods of significant decline in economic activity across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Self-identity

An individual's awareness of their own personal characteristics and the way these characteristics distinguish themselves from others.

Social Environmental Factors

These are aspects of the social surroundings that impact individuals' behaviors, beliefs, and mental health, including family dynamics, community structures, and societal norms.