Answer: C. to help the reader to imagine him.
Explanation: I did the test.
Answer: Roth IRA
Explanation:
A Roth IRA allows a person to contribute income that is already taxed to their retirement account. As the income is already taxed, when it is distributed in retirement, it would be tax free.
People tend to choose this if they feel like taxes would increase in future as opposed to the present and so would like to take advantage and save on taxes.
There are however, restrictions on the amount that can be contributed however and people who earn more than a certain amount per year do not qualify for this retirement plan.
Answer: ¥15575
Explanation: if $1----¥89
$175- = 175*89 =15575
The explanation of the maths above is , since I am travelling to Japan and I am interested in buying a new kimono at a cost of $175 that means I don't want to spend more than $175 for a new kimono in Japan. Since the exchange rate for yen in Japan is ¥89 to $1, then converting my $175 which I have in budget to yen will be the multiplication of 175*89= 15575. I.e $175 that I am willing to pay for a new kimono is ¥15575 in Japanese yen.
Answer:
Dr accounts payable $2,300
Cr cash $2300
Explanation:
Initially the cost of the purchases=$4600
Returning half of the disc means the left for the discs actually bought is half of the invoice price of $4600 i.e $2,300
By not paying within the discount period implies that the debt stands at $2,300
Without mincing words,payment of $2,300 to the supplier automatically translates to debiting account payable with $2,300 and crediting cash account with the same amount.
The correct answer would :
Dr accounts payable $2,300
Cr cash $2300
This is missing from the options provided.
