I would say that the correct answer is that both are work accommodations.
They don't both offer alternative hours - only flextime does, whereas flexplace offers you the opportunity to work from a place of your choosing - for example, a cafe, or your home. Only flexplace allows you to work at a different location - flextime doesn't; you still have to go to your office to work, but you can choose when. And finally, the last option is also incorrect.
