The Employees of Mauve Accounting Services Are Permitted to Use

question 12

Multiple Choice

The employees of Mauve Accounting Services are permitted to use the copy machine for personal purposes, provided the privilege is not abused.Ed is the president of a civic organization and uses the copier to make several copies of the organization's agenda for its meetings.The copies made during the year would have cost $150 at a local office supply.

• A)Ed must include $150 in his gross income.
• B)Ed may exclude the cost of the copies as a no-additional-cost fringe benefit.
• C)Ed may exclude the cost of the copies only if the organization is a client of Mauve.
• D)Ed may exclude the cost of the copies as a de minimis fringe benefit.
• E)None of these.

Compare and contrast risk aversion, risk neutrality, and risk-loving behaviors in financial decisions.

Understand the elements and enforceability of contracts.

Distinguish between legal offers, invitations to treat, and unilateral and bilateral contracts.

Identify the effects of counter-offers, inquiries, revocations, and acceptances on the validity of an offer.

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Definitions:

Unconditioned Stimulus

In behavioral psychology, an automatically triggering stimulus that leads to a natural response without the need for prior learning.

Spontaneous Recovery

A phenomenon in learning where a previously extinguished response re-emerges after a pause in exposure to the conditioning stimulus.

Learned Response

A behavior developed as the result of conditioning, where an individual learns to respond in a certain way to a specific stimulus.

CS (Conditioned Stimulus)

A stimulus that was neutral but becomes associated with an unconditioned stimulus to elicit a conditioned response in classical conditioning.