Non-Cash Benefits: Definition, Tax Code & Examples


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question 1 of 3

Which of the following is NOT considered compensation for an employee?

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1. Julia works as a contractor for Yummi Company. They provide all of their employees and contractors with free lunch on days that they work in the office. Is Julia receiving a fringe benefit?

2. Geri is head of a company that provides gift cards to the local mall for its employees on a regular basis. The price of these gift cards should be:

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About This Quiz & Worksheet

Test your comprehension of non-cash benefits in the workplace with this quiz and worksheet combination. Quiz questions will focus on definitions, tax codes and benefit scenarios.

Quiz & Worksheet Goals

In these assessments you'll be tested on:

  • Employee compensation
  • Fringe benefits
  • Gift cards as compensation
  • Annual gross wages
  • Which tax forms benefits should be reported on

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related non-cash benefits lesson
  • Interpreting information - verify that you can read information regarding tax forms and interpret it correctly
  • Information recall - access the knowledge you've gained regarding fringe benefits

Additional Learning

To learn more about non-cash benefits, review the accompanying lesson called Non-Cash Benefits: Definition, Tax Code & Examples. This lesson covers the following objectives:

  • Define compensation and fringe benefits
  • Describe how fringe benefits affect taxes
  • Calculate gross income
  • Explain how to check the most recent tax requirements