Which of the Following Is Not an Example of a Nontaxable

question 84

Multiple Choice

Which of the following is not an example of a nontaxable fringe benefit?

• A) Employer provided parking of $100 per month.
• B) Qualified employee discounts.
• C) Monthly employer provided transit benefit of $100.
• D) Group-term life insurance policy providing $100,000 of coverage.

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Definitions:

Accounts Receivable

Funds that customers owe to a business for products or services that have been provided but not yet compensated for.

Other Receivable

Accounts receivable that do not fit standard trade transactions, sometimes including loans to employees or advances to suppliers.

Notes Receivable

Claims against others for money, goods, or services evidenced by notes, promises to pay, or receipts.

Bad Debt Expense

An expense recognized by businesses for accounts receivable that are not expected to be collected.