Match Each Statement with the Correct Term Below

question 13

Multiple Choice

Match each statement with the correct term below.
-Cafeteria plan

• A)An employee may exclude up to $5,000 annually of these employer-provided services.
• B)If cash is received under this program, taxpayers are taxed on the amount of cash received.
• C)A salary reduction plan that allows employees to pay for medical and child care costs with before-tax dollars.
• D)A transfer of property without any profit motivation with an intention that includes affection, charity, and respect.
• E)Payments made into an employee's account are not taxable in the current period; taxation is deferred until funds are withdrawn.
• F)Employer provided benefit that may be excluded from income because the dollar amounts are too small for a reasonable accounting.

Recognize the methods of selecting judges in the U.S. court systems.

Distinguish between terms related to court procedural rules.

Comprehend the impact of the Internet on jurisdiction and legal disputes.

Analyze the importance of venue in legal proceedings.

---

Definitions:

Leases Of Goods

agreements in which one party (the lessee) is granted the right to use certain goods owned by another party (the lessor) for a specified time period and under certain conditions.

Voidable Title

A title that is capable of, or subject to, being judged invalid or void.

Good Faith Purchaser

An individual who buys something without knowledge of any outstanding rights, claims, or encumbrances held by others, thereby receiving full legal rights to the item.

FOB

An acronym for "Free on Board", a shipping term used in international trade to denote when liability and ownership of goods is transferred from seller to buyer.