Many employers are now making flexible spending accounts (FSA's) available to employees.Which of the following...
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Accounting
Many employers are now making flexible spending accounts (FSA's) available to employees.Which of the following statements concerning the nature of these accounts is incorrect?
A) The balance employees FSA can be carried forward or exchanged for cash if unused for expenses incurred.
B) An FSA is technically a cafeteria plan that can be used by itself of as a part of a broader cafeteria plan
C) A seperate FSA salary reduction must be made for each type of eligible benefit
D) A salary reduction for an FSA will lower an employees income for social security tax purposes if the employee earns less than the social security wage base
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