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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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Equipment with a book value of $84,000 and an original cost of $167,000 was sold at a loss of $34,000. Paid $109,000 cash for a
adoni [48]

Answer:

$443,400

Explanation:

The computation of cash flows from investing activities is shown below:-

For computing the cash flows from investing activities we need to find out first the Sale of equipment

= $84,000 - $34,000

= $50,000

Net cash paid by investing activities = Sale of equipment - Purchase of new truck + Sale of land + Sale of Long-term investments

= $50,000 - $109,000 + $410,000 + $94,200

= $443,400

3 0
3 years ago
The executives for New Haus LLC set the retail objective for the company. These objectives are broken down in order to create th
yaroslaw [1]

Answer:

Top-down planning

Explanation:

Top-down planning  -

It refers to the method planning , where the goals are bifurcated and placed according to the hierarchy from top to bottom , is referred to as top - down planning .

As breaking and arranging the goals , make the process to accomplish the goals in a better manner .

The process require the movement from higher level to lower level , in a very orderly manner to hasten the process .

Hence , from the given scenario of the question ,

The correct answer is Top-down planning .

4 0
3 years ago
Which financial statements are required for proprietary funds?a) Statement of Net Position; Statement of Revenues, Expenses, and
Cerrena [4.2K]

Answer:

c) Statement of Net Position; Statement of revenues, expenditures, and changes in fund balances; Statement of Cash Flows

Explanation:

Proprietry funds are accounts that are part of governmental institutions and non profits organizations and these require a high standard of transparency and accountability, so they are require to provide to the government the next statements: tatement of net assets; a statement of revenues, expenses, and changes in fund net assets; and a statement of cash flows.

This is accordingly to the summary of statements N. 34 from the Governmental Accounting Standards Board.

3 0
3 years ago
PLEASE HELP FAST!!! What is the MOST likely reason that lottery winners often end up with serious financial problems?
zhuklara [117]

Answer:

taxes and no money management

Explanation:

some comes out of taxes and you do not know what to do with so much money

5 0
3 years ago
Standards differ from budgets in that
Setler [38]

Answer:

D) budgets are a total amount and standards are a unit amount.

Explanation:

For each given choice in the question explanation is provided below as to why its or its not the correct answer.

A) only budgets contribute to management planning and control.

Both budgets and standards contribute in the planning and control are of the company. Therefore, this option is incorrect.

B) budgets but not standards may be used in valuing inventories.

Once gain both are used for valuing inventory, this is due to the fact that budget contains details gathered in standard costing. Therefore, this option is incorrect.

C) budgets but not standards may be journalized and posted.

Both the budget and standard are journalized and posted in the accounting system. Therefore, this option is incorrect.

D) budgets are a total amount and standards are a unit amount.

As standards are unit amounts which contributes in preparing the budget which are total amounts.

Hence, option D is correct.

3 0
3 years ago
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