In __________, the Internal Revenue Service Declared That Employers Could

question 70

Multiple Choice

In __________, the Internal Revenue Service declared that employers could pay health insurance premiums for their employees with pre-tax dollars.

• A) 1942
• B) 1949
• C) 1954
• D) 1957

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Definitions:

Lockbox Arrangement

A service provided by banks to process payments quickly by having checks sent to a special post office box.

Customer Base

The customer base refers to the group of consumers who repeatedly purchase the goods or services of a business.

Bank

A financial institution licensed to receive deposits and make loans, and offer other financial services, such as wealth management and currency exchange.