Identify an Example of Intangible Benefits

question 6

Multiple Choice

Identify an example of intangible benefits.

• A)Increase in salary
• B)Increase in allowance
• C)Increase in the number of staff
• D)Increase in customer satisfaction

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Definitions:

Subchapter S

A section of the Internal Revenue Code that allows corporations to elect a special tax status which enables them to be taxed similar to a partnership, avoiding double taxation.

Voluntary Revocation

This term denotes a deliberate act of giving up or canceling a right, privilege, or license, usually in a legal or regulatory context.

Shareholders

Individuals or entities that own shares in a corporation, thus having partial ownership and potentially receiving dividends from profits.

Subchapter S

A section of the Internal Revenue Code that provides for a special tax status for qualifying small businesses, allowing income to be taxed at the shareholder level and not at the corporate level.