Which of the Following Is Not an Example of a Taxable

question 7

Multiple Choice

Which of the following is not an example of a taxable fringe benefit?

• A)Personal use of corporate jet.
• B)$1,000,000 group-term life insurance policy.
• C)$225 of employer-provided parking.
• D)Automobile allowance.

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Definitions:

Social Forces

The demographic characteristics of the population and its culture.

Culture

encompasses the social behavior, norms, knowledge, beliefs, arts, laws, customs, capabilities, and habits of the members of a society.

Tariffs

Government levies on goods that are imported or exported.

Trade Imbalance

A situation where the value of a country's imports significantly exceeds or is less than the value of its exports, affecting the national economy.