C) FSAs expire annually but HSAs may be reserved for use late in life.
A) They must be part of the employer's cafeteria plan.
B) The cash value of excluded fringe benefits is always taxable.
C) Excluded fringe benefits are not generally a taxable part of employee pay.
D) Excluded fringe benefits are generally not reported on the employee's W-2.
C) Excluded fringe benefits are not generally a taxable part of employee pay.
D) Excluded fringe benefits are generally not reported on the employee's W-2.
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Once a level of control risk has been established, it cannot be changed.
Answer the following statement true (T) or false (F)
To find a description of a transaction, one should look at the
A) ledger. B) trial balance. C) journal. D) chart of accounts.
The gradual and ongoing improvement of products and processes while reducing costs is known as
A) TQM. B) process mapping. C) kaizen. D) benchmarking.
In which of the following types of accounts are decreases recorded by credits?
A) liabilities B) owner's capital C) drawing D) revenues