Which of the Following Does Not Qualify as a "For

question 32

Multiple Choice

Which of the following does not qualify as a "for the convenience of the employer" nontaxable fringe benefit?

• A)The fair market value of the rent of an apartment manager living on the premises.
• B)An overtime meal provided to an employee while working late.
• C)A meal provided by a hospital to residents during their shift.
• D)A company picnic.The value of a company picnic is a nontaxable fringe benefit,but it is not a "for the convenience of the employer" benefit.

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Definitions:

Bonds

Fixed-income investments representing a loan made by an investor to a borrower, typically corporate or governmental.

Security

A financial instrument representing an ownership position in a publicly-traded corporation (stock), a creditor relationship with a government or a corporation (bond), or rights to ownership as represented by an option.

Intrastate Exemption

Refers to exceptions within state regulations that allow certain activities to occur without needing to comply with broader federal laws or regulations.

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws, regulating the securities industry, and overseeing the nation's stock and options exchanges.