All categories

4 years ago

In two or more complete sentences, compare and contrast the 401(k) and the 403(b) savings plans.

Business

2 answers:

NemiM [27]4 years ago

6 0

401(k) - A retirement plan that some corporations offer their employees.

403(b) - A retirement plan available to employees of nonprofit organizations

Ksju [112]4 years ago

5 0

The main difference of the two is the kind of employers who can offer the saving plans. For 403(b) saving plans, this applies to nonprofit companies, schools, government organizations, hospitals and religious groups. They are exempt of some administrative processes making it less costly compared to 401(k) savings plan. 401(k) savings plan is applied on private companies.

You might be interested in

Last year, Myron purchased a $10,000 certificate of deposit with a 3% rate of interest from his bank. The government reported th

Reil [10]

Answer:

Option C is the right answer

Explanation:

In this question, we are asked to state what happens in a transaction given some level of information.

Firstly, we need to understand what a certificate of deposit is. A certificate of deposit referred to as CD is a kind of bank product that stipulates that a customer has agreed to leave a certain amount of money in the bank for a particular period of time untouched at an interest rate higher than normal and otherwise tagged as premium.

Now, it must be stated that it was after he was issued that there was a drop in prices. Whatever happens during the drop will not affect him and would be the bank’s concerns simply because his own rate had been predetermined and nothing could change this as he had been issued a contract to that affect.

A drop in price will thus make his initial deposits higher now since there is a drop in price will generally, the bank will bear the brunt of the drop in price hence, losing

6 0

4 years ago

Regarding ABC costing systems, which of the following statements is true?ABC systems accumulate overhead costs by departmentsABC

Scrat [10]

Answer: ABC costing systems have separate indirect cost allocation rates for each activity

Explanation: this costing method is based on the costs that each activity consume in a company. It can be used in either manufacturing or services company. The way of distribution the indirect costs is quite accurate.

3 0

3 years ago

Imagine that you are a consultant, and have been hired by Rosewell's board of directors to examine decision making within the fi

poizon [28]

Explanation:

Executive Information System (EIS) is a specialised form of decision making support system designed to give management level employees background information on topics both internal and external to the company. Using this information, they are then guided by the governance policies and standard operating procedures of the company in the decisions they need to make, considering environmental factors, availability of resources and time constraints. The Information Systems models contain routine and special statistical, financial, and other quantitative analysis.

According to Computer Business Research, “the focus on Executive Information Systems is on easy to use user interfaces and graphical displays. The benefits of this is that they offer strong reports and drill down capabilities. Executive Information Systems are important because they help top-level executives analyze, compare and highlight trends in important areas so they can monitor performance and identify opportunities and problems. Over recent years however, the popularity of Executive Information Systems has decreased due to Business Intelligence, analytic(s), and digital dashboards.”

Steps followed in implementing EIS

1. Undertake research – the consultant has to find out what is applicable to the company specifically, looking at the company size, its resources, and other factors that affect information systems.

2. Compare and benchmark with best practices globally, regionally and locally.

3. Procure and/or Install the EIS.

4. Check if it is operating effectively. Also train the end users on how to make efficient use of the information system.

5. Keep monitoring and evaluating the system

N.B: Questions are required to give a more precise answer

4 0

3 years ago

Consumer products are a. products used in the production of other items. b. products an industrial buyer will make an effort to

Olegator [25]

Answer:

the correct answer is c. products purchased by the ultimate consumer.

Explanation:

there are two types of goods, they are, consumer goods and industrial goods.

Consumer goods are the once that are purchased by the consumers for the purpose of consumption and not to produce anything from them.

While industrial goods are mainly bought by companies and producers to produce more goods.

4 0

4 years ago

Quickbooks Online. IRS guidelines require specific information to substantiate deductible automobile expenses. Which 3 items are

VikaD [51]

Answer:

✓Vehicle type

✓date placed in service

✓total mileage (including business, commuting and personal)

Explanation:

IRS guidelines available for automobile

deductible is that if one is using his cat for business purposes, the entire cost of ownership as well as operation can be deducted. But if the car is for business and personal purposes, the cost for the business use can be deducted.

The three items that are are included in the substantiation requirements are;

✓Vehicle type

✓date placed in service

✓total mileage (including business, commuting and personal)

7 0

3 years ago