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A Fringe Benefit Plan Where Employees Choose the Package of Benefits

question 306

Multiple Choice

A fringe benefit plan where employees choose the package of benefits they want up to a certain dollar amount is called a ________ plan.


Definitions:

Cash Equivalent

Short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value.

Insurance Proceeds

The money received by an insured party from an insurance company to cover a claim.

Accounts Payable

Liabilities owed by a business to its creditors for goods and services purchased on credit, which are due within a short period.

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