Alex works for a company with a 401(k) plan. He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k) account
If his marginal tax rate is 33%, how much income tax liability is he saving by participating in his 401(k)?
A) $6,400
B) $2,112
C) $6,000
D) $16,800
Answer: B
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The communication stage of accounting is accomplished by
a. storing data. b. reporting to decision makers. c. processing data. d. recording data.
Consider the following two-person game, and determine the saddle point if it exists
Y1 Y2 X1 4 6 X2 2 -3 A) -3 B) 2 C) 4 D) 6 E) There is no saddle point
Port Harbor City enacts an ordinance that bans the distribu¬tion of all printed materials on city streets. Later, Quint protests a new "revenue-enhancing" measure also enacted by the city by distributing handbills. When Quint is charged with violating the printed-materials ban, he files a suit against the city. Most likely, the court will hold that the ban is
a. an unconstitutional restriction of speech. b. constitutional under the First Amendment. c. justified by the need to protect individual rights. d. necessary to protect national interests.
The firm selling the recourse receivables avoids the cost of determining the creditworthiness of its customers
Indicate whether the statement is true or false.