National Corporation Allows an Employee, Phyllis, to Use a Company

question 7

Multiple Choice

National Corporation allows an employee, Phyllis, to use a company car for her vacation to San Diego.
I.The employer/employee relationship indicates that the receipt of the use of the car is a type of compensation for services rendered.
II.Income recognition is not necessary in this case.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Newborn's Hearing

The auditory ability of a newborn baby, which begins to develop before birth and is fully functional shortly after birth for hearing sounds.

Amniotic Fluid

The protective liquid contained within the amniotic sac that surrounds and protects the fetus during pregnancy.

Sensory Stimulation

The input that stimulates the senses, such as sight, sound, touch, taste, and smell, crucial for brain development.

Voluntary Control

The ability to consciously regulate one's own thoughts, feelings, and actions.