Which of the following statements is true of corporations in 2021? Select one: a. Capital losses of a corporation may be deducted from ordinary income, subject to an annual limitation. b. A corporation may deduct organizational expenditures as they are incurred. c. If a corporation has a long-term capital loss that is carried back, it is treated as a short-term capital loss d. Income of all corporations is taxed in the same way that income of partnerships is taxed.

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.