Match Each Statement with the Correct Term Below

question 43

Multiple Choice

Match each statement with the correct term below.
-De minimus fringe

• A)An employee may exclude up to $5,000 annually of these employer-provided services.
• B)If cash is received under this program, taxpayers are taxed on the amount of cash received.
• C)A salary reduction plan that allows employees to pay for medical and child care costs with before-tax dollars.
• D)A transfer of property without any profit motivation with an intention that includes affection, charity, and respect.
• E)Payments made into an employee's account are not taxable in the current period; taxation is deferred until funds are withdrawn.
• F)Employer provided benefit that may be excluded from income because the dollar amounts are too small for a reasonable accounting.

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Definitions:

Status

The social ranking of a person’s position.

Symbolic Interactionist

A theoretical framework in sociology that emphasizes the role of symbols and language as core elements of all human interaction.

Consensual

Agreement or consent by all parties involved in a given action or transaction.

Meanings

Significances or interpretations assigned to symbols, words, actions, or objects within a cultural or individual context.