Flexible Benefits Plans Enable Employees to Choose from Among a Set

question 51

True/False

Flexible benefits plans enable employees to choose from among a set of benefits and different levels of these benefits.(Basic Design Considerations for Discretionary Benefits)

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Definitions:

Other Comprehensive Income

Income that includes all changes in equity from non-owner sources, such as foreign exchange adjustments or unrealized gains/losses on certain investments, not included in net income.

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities, and equity) is represented as a proportion of the total account.

Net Sales

The amount of sales revenue remaining after deducting sales returns, allowances, and discounts.

Comprehensive Income

The change in equity of a company during a period from transactions and other events, excluding any owner contributions and distributions.