Flexible Spending Plans Consist of ________

question 17

Multiple Choice

Flexible spending plans consist of ________.

• A)a core of essential benefits and a menu-like selection of others from which employees can select
• B)no base salary; the employee is paid only for what he or she produces on the basis of a fixed sum for each unit of production completed
• C)a fraction of a company's profit margins determined on the basis of an established formula
• D)pretax dollars up to the dollar amount offered in the plan that an employee sets apart to pay for particular benefits
• E)modules of benefits, each of which meets the needs of a specific group of employees

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Definitions:

Total Interest

The overall amount of interest paid on a loan or earned on an investment over a specific period.

Compounded Quarterly

A compound interest calculation where interest is added to the principal every three months.

Quarterly Payments

Payments that are made four times a year at three-month intervals.

Final Payment

The last installment paid to settle a debt, which may include principal and interest.