An Annual "Personal Statement of Benefits" _______________

question 15

Multiple Choice

An annual "personal statement of benefits" _______________.

• A)is a report required by ERISA
• B)shows each employee how much his/her benefits are worth
• C)is a tool that allows employees to choose the type of benefits that best fits their personal needs
• D)is given to an employee upon termination so that he/she is informed on COBRA, severance pay, unemployment compensation, and other continuing benefits

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Definitions:

Sources and Uses of Cash

A financial statement or section that summarizes where a company's cash comes from (sources) and where it is spent (uses), providing insight into its financial health.

Assets and Liabilities

Assets are resources owned by a company that have economic value, while liabilities are the company's legal debts or obligations.

Income and Expenses

Refers to the money received (income) and the costs incurred (expenses) by an individual or business, which determine the net profit or loss.

Free Cash Flow (FCF)

The amount of cash that a company generates after accounting for capital expenditures needed to maintain or expand its asset base.