Evaluate the Following Statements: I

question 74

Multiple Choice

Evaluate the following statements: I.De minimis fringe benefits are those that are so immaterial that accounting for them is impractical.
II) De minimis fringe benefits are subject to strict antidiscrimination requirements.
III) Generally, a fringe benefit of less than $50 is considered de minimis and can be excluded from gross income.

• A)Only I is true.
• B)Only III is true.
• C)Only I and III are true.
• D)I, II, and III are true.
• E)None of these.

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Definitions:

Utilitarianism

A philosophical theory that suggests the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Toxic Environment

Conditions in a workplace or other environment that are harmful to employees' or inhabitants' health, well-being, or performance, often due to dangerous chemicals or a hostile work culture.

Whistleblowing

The act of exposing wrongful, unethical, or illegal activities within an organization to those in authority or the general public.

Goodwill

An intangible asset reflecting the value of a business above its tangible assets and liabilities, often associated with its brand, customer base, and reputation.