Harry Is a CPA Employed as a Manager by a Regional

Harry is a CPA employed as a manager by a regional accounting firm. The firm pays Harry's dues to professional organizations and $175 monthly for his personal parking place at the office. Only managers and partners receive these benefits.
I.Both payments are working condition fringe benefits.
II.These benefits are excludable for Harry even though they discriminate in favor of higher-paid employees.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.

Correct Answer:

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