National Corporation Allows an Employee, Phyllis, to Use a Company

question 7

Multiple Choice

National Corporation allows an employee, Phyllis, to use a company car for her vacation to San Diego.
I.The employer/employee relationship indicates that the receipt of the use of the car is a type of compensation for services rendered.
II.Income recognition is not necessary in this case.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Pretentious

Characterized by an attempt to seem more important or knowledgeable than one actually is, often by affecting greater importance or merit.

Preformed Schemas

Cognitive structures or frameworks that help individuals organize and interpret information, often based on past experiences and societal norms.

Stereotypes

Oversimplified standardized images or ideas held by individuals about members of a particular group.

Political Liberal

An individual who favors progressive political policies, advocating for social equality, and typically supporting individual rights and freedoms.