Which Term Refers to a Benefit Plan Established by Employers

question 112

Multiple Choice

Which term refers to a benefit plan established by employers that allows employees to deposit a certain portion of their pre-tax salary into an account to be used for eligible expenses?

• A) cash balance plans
• B) health savings account
• C) flexible spending account
• D) defined health benefit account

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Definitions:

Maximise

To maximize something to its utmost potential or level.

Input

The resources such as labor, materials, and capital used in the production process to produce output.

Profit

The financial surplus remaining after all expenses have been deducted from total revenue, indicative of the financial success of a business operation.

Commodity

An essential commodity employed in business activities that is substitutable with other commodities of the identical category.