Some Fringe Benefits Always Provide a Double Benefit-A Deduction for the Employer

question 97

True/False

Some fringe benefits always provide a double benefit-a deduction for the employer and an exclusion for the employee.

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Definitions:

Consumer Binge

A period characterized by excessive spending and consumption by consumers.

Bank Credit Cards

Financial instruments issued by banks that allow holders to borrow funds up to a predetermined limit for purchases or cash withdrawals.

Durable Goods

Goods that are designed to last and be used over a long period, such as vehicles, appliances, and furniture.

Nondurable Goods

Goods that are consumed or are only usable for a short period of time before they are depleted or become useless.