Which of the Following Non-Cash Employee Benefits Would Be Excluded

question 44

Multiple Choice

Which of the following non-cash employee benefits would be excluded from the taxable income of the employee? Unless indicated otherwise all benefits are provided on a non-discriminatory basis.

• A)Executives of Handyware receive a free automobile every 2 years.
• B)The top salesman for Genesis in each sales district receives a free two-week vacation in Hawaii.
• C)Carter, a flight attendant for Western Airlines, flew roundtrip from Houston to Dallas 45 times during the tax year to visit her boyfriend at no cost. Airline employees fly free on a space available basis.
• D)Mike receives a free apartment from his employer who owns hundreds of apartment complexes all over the country. Mike is the internal auditor for the apartment company. He has the option to live in a free apartment or receive additional compensation.
• E)All of the above non-cash benefits can be provided to employees on a tax-free basis.

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Definitions:

Metadata

Embedded electronic data recorded by a computer in association with a particular file, including location path, creator, date created, date last accessed, hidden notes, earlier versions, passwords, and formatting. Metadata reveals information about how, when, and by whom a document was created, accessed, modified, and transmitted.

Electronic Data

Information that is stored in a digital format and can be retrieved via electronic devices.

Chain of Custody

The chronological documentation or paper trail that records the sequence of custody, control, transfer, analysis, and disposition of physical or electronic evidence.

Chain of Custody

A legal concept that refers to the chronological documentation or paper trail showing the seizure, custody, control, transfer, analysis, and disposition of physical or electronic evidence.