Match Each Statement with the Correct Term Below

question 17

Multiple Choice

Match each statement with the correct term below.
-Employee discount

• A)Dues, uniforms, subscriptions.
• B)Intended to punish and are taxable.
• C)Taxable if from an employer-provided policy.
• D)Any personal wrong, such as libel, slander, or assault.
• E)Excludable amount limited to gross profit percentage.
• F)Gratuitous and not a form of compensation for services.
• G)Excludability requires that it must be a condition of employment.
• H)Excluded if for compensatory payments for sickness or personal physical injury.
• I)To replace lost earnings and is excluded if due to personal physical injury.
• J)Excluded if provided on the employer's business premises and for the convenience of employer.

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Definitions:

Checks

Checks are written, dated, and signed instruments that direct a bank to pay a specific amount of money from the writer's account to the person or entity in whose name the check has been issued.

Deposits

Funds placed into an account at a financial institution for safekeeping, which can be used for transactions or as savings.

Commission

A commission is a fee paid to an agent or employee for completing a transaction or service, usually calculated as a percentage of the sale or transaction value.

Reimbursing

The act of compensating someone for expenses they have incurred on your behalf.