INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 60

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
A [ flexible spending account (FSA) | health savings account (HSA) ] is a tax-free savings account-funded by employees, employers, or both-to spend on routine medical costs.

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Definitions:

Mutual Mistake

A misunderstanding among all parties involved in a contract, making the contract potentially voidable.

Basic Assumption

An underlying assumption that is accepted as true without proof as the basis for argument or action.

Avoided Contract

A contract that has been declared null and void, often due to legal deficiencies or mutual agreement.

Identity, Existence

The concept or fact of being the same entity as described or claimed, often used in legal contexts to determine the authenticity or truthfulness of a person or entity.