Which of the Following Benefits Cannot Be Excluded as a No

question 3

Multiple Choice

Which of the following benefits cannot be excluded as a no additional cost service fringe benefit?

• A) Complementary dry cleaning for employees at a laundry company.
• B) Free local phone service for phone company employees.
• C) A car wash at an automobile dealership.
• D) Free tax return preparation from a client.

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Definitions:

Standards

Established norms or criteria in various fields that define quality, performance, or procedures to ensure consistency and reliability.

Goodwill

An intangible asset that represents the value of a business's brand, customer relations, employee morale, and other factors not reflected in physical or financial assets.

Current Asset

An asset on the company's balance sheet that is expected to be converted into cash within one year.

Long-term Asset

An asset that is not expected to be converted to cash or used up within one year of the balance sheet date.