Match Each of the Following Items with the Appropriate Description

question 12

Multiple Choice

Match each of the following items with the appropriate description, indicating whether the item is computed on a group basis on a consolidated tax return.
-Compensation deductions.

• A)Group item
• B)Not a group item

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Definitions:

Disability Insurance

A type of insurance coverage that provides income in the event a worker is unable to perform their job duties due to a disability.

Short-Term Plans

Strategies or objectives set to be achieved in the immediate future, typically within a year.

Long-Term Plans

Strategic plans developed to achieve goals and objectives over an extended period, typically beyond five years.

Flexible Spending Account

A pre-tax benefit account used by employees to pay for eligible healthcare expenses, reducing their taxable income.