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Oksana_A [137]
3 years ago
7

Which of the following is generally true about 401(k) and 403(b) retirement plans?

Business
1 answer:
Evgen [1.6K]3 years ago
6 0
A 401k is a retirement savings plan that is hosted/sponsored by the employer.

The 403b plan is also known as a TSA (tax-sheltered annuity) which is a retirement plan for **specific employees** that are from public schools, certain ministers, or they're employees of certain tax-except (excused) organizations.
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The Blue Hydrangea Law Firm prepays for advertising in the local newspaper. On January​ 1, the law firm paid $ 7 comma 700 for s
Ivahew [28]

Answer:

$7,700

Explanation:

There are two basis of accounting. These are the cash and accrual basis. In the cash basis of accounting, expenses are full recognized only when cash has been paid.

Hence unlike in the accrual basis where the payment or non payment results in the recognition of the expense once it has been incurred (and a corresponding asset or liability in form of prepayments and accrued expense), expenses under the cash basis of account would always result in a debit to expense and a credit to cash.

As such, if On January​ 1, the law firm paid $ 7 comma 700 for seven months of advertising, this will be recognized as the expense for the two months ending February 28 under the cash basis.

6 0
3 years ago
determine the net income of a company for which the following information is available for the month of july. employee salaries
djyliett [7]

The net income of the company is $193,000

What is the net of the company?

The net income of the company is the total consulting revenue minus the salaries expense, interest expense, and rent expense, in other words, revenue minus total costs of running the company

net income=consulting revenue-rent expense-interest expense-salaries expense

consulting revenue=412,000

rent expense=23,000

interest expense=13,000

salaries expense=183,000

net income=412,000-23,000-13,000-183,000

net income=$193,000

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5 0
2 years ago
Since nominal wages were constant as the price level changed, you explain that a decrease in the price level leads to an _______
Wittaler [7]

Answer:

increase in real wages, hiring less workers

Explanation:

In the case when the nominal wages are remain same but at the same time the level of the price should changed so if there is an decrease in the level of the price so that means there is an increased in the real wages as it is an inverse relationship between the real wages and the price level due to this the firm could hired less workers as the wages are increased

6 0
2 years ago
When a market is monopolistically competitive, the typical firm in the market is likely to experience a a. positive or negative
vodka [1.7K]

Answer:

a

Explanation:

4 0
2 years ago
General rule to use in assessing the average collection period is that
saveliy_v [14]
The general rule you are refering is that it should not exceed greatly the credit term period. Rules that do not apply in this case is the 30 days exceed rule, the rule that says that it can be any length as l<span>ong as the customer cont<span>inues to buy merchandise, and the rule that says that it should not greatly exceed the discount period. </span></span>
4 0
3 years ago
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