The Cash Value of ____ Must Be Included as Compensation

question 36

Multiple Choice

The cash value of ____ must be included as compensation on the employee's W-2.

• A)plaques and trophies
• B)occasional meals and snacks
• C)on-site athletic facilities
• D)gift cards

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Definitions:

Fungible Goods

Goods of which any unit is identical from another and can be substituted, such as grains, fuels, or money.

Equivalent Unit

A concept in cost accounting used to express the amount of work in progress inventory in terms of fully completed units of output.

Goods

Tangible personal property or merchandise.

UCC

The Uniform Commercial Code is a comprehensive set of laws governing all commercial transactions in the United States.