Which of the Following Is Not an Example of a Taxable

question 51

Multiple Choice

Which of the following is not an example of a taxable fringe benefit?

• A)Personal use of corporate jet.
• B)$1,000,000 group term life insurance policy.
• C)$200 of monthly employer provided parking.
• D)Automobile allowance.Employer provided parking is nontaxable up to $245 per month.

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Definitions:

Purchase Of Service Agreement

A contract between a governmental entity and a private agency to provide specific services to the public.

Fiscal Agreement

An arrangement concerning financial matters or policies, typically between organizations, governments, or other entities.

Predetermined Number

A specific quantity or number established in advance, often used in contexts involving limits, targets, or quotas.

Oral Contracts

Agreements made through spoken words and promises between parties, which can be legally binding, though harder to prove than written contracts.