Flexible Spending Accounts Allow Employees to Set Aside Before-Tax Dollars

question 2

True/False

Flexible spending accounts allow employees to set aside before-tax dollars for medical and dependent care expenses.

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Definitions:

Bill of Exchange

A written, unconditional order by one party directing another party to pay a specified sum of money to a third party on demand or at a set date.

Call for Tenders

A formal invitation to suppliers to bid on supplying goods or services under specified conditions.

Prospective Bidders

Prospective bidders are individuals or entities that may be interested in submitting a bid or offer to acquire goods, services, or assets that are being offered.

Guarantor

A person or entity that agrees to be responsible for another's debt or obligations if the latter fails to fulfill them.