Which of the following is NOT an act of bankruptcy?
A) Juniper Limited gave notice to its creditors that it is about to suspend the payment of its debts.
B) Jennifer has left the country in order to avoid meeting with creditors.
C) Percy has ceased making credit card payments for the past three months.
D) Tetra Limited presented in a meeting of its creditors, a statement showing that it is insolvent.
E) All of the above are acts of bankruptcy
C
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Which one of the following statements about flexible spending accounts is false?
A. They may be used to cover only employees' (not dependents') health-care expenses. B. They permit pretax employee contributions. C. Contributions to the accounts may not exceed $5,000 per year and must be designated in advance. D. Funds must be used by the plan's year end or they revert to the employer.
Foreign exchange rate risk occurs because foreign exchange rates are volatile and can impact banks with exposed foreign assets and/or liabilities.
a. true b. false