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Which of the following statements concerning cafeteria plans is true?


A) Allows employees to choose from a menu of fringe benefits or to choose cash.
B) Most of the menu choices are nontaxable fringe benefits.
C) Any receipt of cash option that is elected is treated as taxable compensation.
D) All of the statements are true.

E) A) and C)
F) B) and C)

Correct Answer

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Brandy graduated from Vanderbilt with her bachelor's degree recently. She works for Walton & Company CPAs. The firm pays her tuition ($8,200 per year)for her so that she can receive her MBA. How much of the $8,200 tuition benefit does Brandy need to include in her income?

Correct Answer

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