Which statement is accurate regarding an accountable plan?

An accountable plan requires employees to adequately account to their employers for their expenses within a reasonable period of time.

If an accountable plan exists and the expenses to be reimbursed meet all three rules, the $50\%$ limitation on meals is applied by the employee.

Accountable plans are used solely to reimburse employees for their meal expenses, but not travel expenses.

If an accountable plan exists, employees do not need to substantiate and account for their expenses.