All of the following statements about 403(b) plans are true EXCEPT
A) Contributions to a 403(b) reduce an employee's taxable income.
B) 403(b) plans are designed for employees of public school systems and tax-exempt organizations.
C) The law limits the amount of income that an employee can elect to defer under a 403(b) plan.
D) Matching employer contributions are not permitted under a 403(b) plan.
Answer: D
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Crutchfield and Grant determined effective nonprofit chief executive officers ______.
A. conduct strategic planning B. share leadership with others C. do not work outside of their expertise D. manage their organizations as closed systems
The allowance method overcomes shortcomings of the direct write-off method because it
a. recognizes the loss from uncollectible accounts in the period in which the sale occurs and the firm recognizes revenue. b. reduces the opportunity to manage earnings each period by deciding when particular customers' accounts become uncollectible. c. reflects the amount a firm expects to collect in cash from the accounts receivable on the balance sheet. d. all of the above. e. none of the above.
Despite being unable to take full advantage of globalization, there is still hope in the future for Africa because the potential of African countries remains virtually untapped.
Answer the following statement true (T) or false (F)
Discretionary sources of financing are those sources that vary automatically with a firm's level of
sales. Indicate whether the statement is true or false