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Bookkeeping Quiz – Employer provided loans

By Nancy Smyth, on February 5th, 2009.

Test your bookkeeping expertise with our “Bookkeeping Quiz” questions.

Q. An employer-provided loan that is interest free or at below-market rates is nontaxable to employees IF the daily aggregate loan balance does not exceed $____ and there is a bona fide agreement to repay the amount.

A. $10,000.00

How did you do?

About the Author:
Nancy has used and supported Intuit products since 1986, first Quicken and then QuickBooks, in a variety of industries, with her primary focus being commercial/government construction contractors. Nancy became a Certified QuickBooks ProAdvisor in 2000 and maintains her Certified QuickBooks ProAdvisor status today. In August, 2000 Nancy and husband Ben founded Sunburst Software Solutions, Inc., and began developing QuickBooks Add-On Software. In 2001, when Intuit launched the Intuit Developer Network, Sunburst joined as a Premier member and in 2006 Sunburst was one of the first thirteen developers to achieve Gold Developer Status. For more information visit http://www.sunburstsoftwaresolutions.com/about-us.htm

Posted on February 5th, 2009 | Tags: , , | Category: Bookkeeping Tips | http://blog.sunburstsoftwaresolutions.com/2009/02/05/bookkeeping-quiz-employer-provided-loans/trackback/ |

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