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.

Recognize different types of life insurance policies and their features.

Identify the roles and characteristics of mutual insurance companies.

Understand the importance and application of policy riders and benefits.

Recognize the importance of naming beneficiaries and how life insurance proceeds are handled.

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Definitions:

Preferences

In economics, the individual tastes and desires that dictate the choice of consumption or the selection of goods and services.

Utility Function

An economic tool that measures the preference level of consumers for different combinations of goods and services.

Private Consumptions

Private consumption refers to the spending on goods and services by individuals and households in an economy, excluding government expenditure.

Private Consumptions

The spending by households on goods and services, excluding purchases of new housing but including healthcare, education, and entertainment.