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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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Which of the following are integral parts of the managerial process of crafting and executing strategy?

iVinArrow [24]

Answer:

The correct answer is a. Developing a strategic vision, setting objectives, and crafting a strategy .

Explanation:

Management has the responsibility of charting the strategic course, establishing a series of objectives that allow it to choose a strategy that allows achieving everything planned. Likewise, the board of directors is responsible for defining and executing such strategies.

The management process has the following stages:

1. Define strategic vision.

2. Set Goals.

3. Develop the strategy.

4. Apply and implement the strategy.

5. Evaluate performance and implement controls.

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3 years ago

While a mechanic works on his car, a taxi driver takes Robert to his job as a warehouse laborer. At the end of his shift, he mak

Orlov [11]

They have high school degrees with some or no college experience.

Explanation:

The workers in Transportation and Logistics careers usually have high school degrees with some or no college experience.

Although they do not need a degree or diploma, they usually have a high school degree.

Students in transportation, distribution and logistics learn and practice skills for various post-high school education and training opportunities.

Career and technical education programs provides career oriented hands on learning pathways

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3 years ago

Read 2 more answers

This information relates to Sherper Co. 1. On April 5 purchased merchandise from Newport Company for $22,000, terms 2/10, n/10.

Feliz [49]

Answer:

April 5, purchased merchandise on account terms 2/10, n/10

Dr Merchandise inventory 22,000

Cr Accounts payable 22,000

April 6, paid freight costs

Dr Merchandise inventory 900

Cr Cash 900

April 7, purchase equipment on account

Dr P, P & E - Equipment 26,000

Cr Accounts receivable 26,000

April 8, returned some merchandise (April 5th purchase)

Dr Accounts payable 2,000

Cr Merchandise inventory 2,000

April 15, paid merchandise invoice

Dr Accounts payable 20,000

Cr Cash 19,600

Cr Purchase discounts 400

May 4, paid merchandise invoice

Dr Accounts payable 20,000

Cr Cash 20,000

If the company pays the invoice on April 15th, it will get a 2% discount which must be recorded as a purchase discount.

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3 years ago

Question 2 of 10

gavmur [86]

Answer:

Explanation:

The term used to define standards of behavior that governs individual's and companies conduct is ethics.

The term ethics is derived from the Greek word ethos, meaning, way of living. Ethics comes under the rubric of philosophy and is related to the subject of human conduct, especially concerning the actions of humans towards the society.

Ethics are those moral principles in which the conduct of companies and human behaviors are anchored.

Therefore, the correct answer is option C.

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2 years ago

Jack and Jill have a tenancy in common in an apartment building. After ten years of ownership, Jill dies unexpectedly. On Jill's

Basile [38]

<h2>Jill's interest in the property will: <u>Pass to Jill's heirs </u>(Option B)</h2>

Explanation:

Let us understand the meaning of tenancy: It is the "possession of any property which might be land or building and get connected as tenant".

In contrast, ownership means the property belongs that person alone or in partnership.

Understanding the above terms, We can say, Jack and Jill have been a tenant and after ten years, Jill dies. So the rest of the interest in the property will definitely go to his heirs only.

It cannot be passed to Jack because Jill's interest will not be paid by other person except for Jill's heirs. Jack heirs are no way responsible or own the property of Jack.

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3 years ago