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3 years ago

All of the following statements about flexible spending accounts (FSAs) are TRUE, EXCEPT:

Business

1 answer:

Alexxandr [17]3 years ago

5 0

Answer:

c. Funds remaining in the account at the end of the year roll forward to the next year.

Explanation:

Flexible spending accounts is created by an employer for the employee and is a type of savings account that allows the account holder with certain tax benefits. The employee is required to contribute some amount from his earnings to the account. Contributions made to this account are deducted from your account thereby decreasing your taxable income.The funds are utilized for payment of qualified expenses.

The funds should be used by the end of the year. But the employer can give grace period of two and half months within which you should completely use the fund and finish it. Sometimes the employer might let you roll over $500 per year from the unused fund from your account.

So funds remaining in the FSA at the end of the year doesn't roll forward to the next year. All other statements are correct.

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In 2017, Oriole Corporation reported net income of $1,004,700. It declared and paid preferred stock dividends of $278,600. Durin

nexus9112 [7]

Answer:

$3.62

Explanation:

The dividend distributed to common share = total net income - dividend for preferred stock

= $1,004,700 - $278,600

= $726,100

Earnings per share (EPS) = The dividend distributed to common share / common shares outstanding

= $726,100/ 200700

= $3.62

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3 years ago

Company send and receive messages daily via email, voice mail, text and traditional memos. A persuasive message occurs when a pe

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Explanation:

Persuasive message:

Cordial, positive communication, with a focus on negotiation and openness to receiving proposals and feedbacks.
Indirect approach, with a focus on explaining the advantages and benefits of the public to perform the expected action such as performing a specific task or concluding a sale.

Deliver bad news in business:

Be transparent and communicate all the reasons that led the organization to face the bad news that is being communicated, maintaining a realistic but positive approach to maintain the sense of unity and overcoming of employees.
Using an indirect approach so that bad news has less impact on the audience, for this the communication is made using soothing words and the news is in fact only given at the end of the message when explanations of the reasons for the fact are explained which increases the employees' sense of understanding.

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3 years ago

Beresford Inc. purchased several investments in debt securities during 2020, its first year of operations. The following informa

horsena [70]

Answer:

Check the explanation

Explanation:

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3 years ago

instead of only meeting the goals of upper management, malcolm could have also tried to meet the goals of his team members. this

swat32

Instead of only meeting the goals of upper management, malcolm could have also tried to meet the goals of his team members. This is known as servant leadership.

What is servant leadership?

Servant leadership is a leadership philosophy in which the aim of the leader is to work. This differ from traditional leadership where the leader's main goal is the thriving of their company or organization. A servant leader shares power, puts the wants of the employees first and helps people develop and perform as highly as possible.

Servant leaders are very values-based and mission-driven.

Learn more about servant leadership here:

brainly.com/question/27806974

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1 year ago

At the beginning of the period, the Assembly Department budgeted direct labor of $110,000, direct materials of $170,000, and fix

malfutka [58]

Answer:

$378,000

Explanation:

First, we need to find the variable cost per hour:

(Direct Material + Direct Labor)/Number of hours of production

= $(170,000+110,000)/8,000

= $35

Since, the department took more hours for production, therefore,

Additional budgeted costs = (10,000 - 8,000) x $35 = $70,000

Total appropriate budget for the department using flexible budgeting:

Prime cost + Factory overhead (Fixed) + Additional hourly (budgeted) costs

= (Direct labor + Direct Material) + Factory overhead (Fixed) + Additional hourly (budgeted) costs

= $(110,000 + 170,000)+$28,000+$70,000

= $378,000

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3 years ago