Compare and contrast the defined-contribution plans
What will be an ideal response?
Answer: Under profit-sharing plans your employer contributes a portion of the company's profits to your individual plan. Things are great when there is a profit and not so great when there is none. Money purchase plans have a guaranteed contribution by the employer of a set percentage of each employee's salary. Employers match a percentage of employee's contributions in a thrift-and-savings plan. An ESOP is the riskiest plan. Here, your company contribution consists of the company's stock. If the firm goes broke you lose everything. A 401(k) plan is a tax-deferred retirement plan in which both the employee's contributions and earnings are tax-deductible.
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The audit committee generally includes senior executives of the organization.
Answer the following statement true (T) or false (F)
Corporate codes of ethical conduct:
A. accurately reflect the values of society. B. are sometimes viewed as thinly disguised attempts to mislead the public into thinking that the company behaves ethically. C. tend to expressly publish policies that deal directly with corruption to avert legal measures that might impose severe constraints. D. effectively deter unethical behavior.
Under which accounting method are revenues and expenses recognized in the same accounting period that cash receipts and payments occur?
A) Under the cash basis of accounting B) Under the accrual basis of accounting C) Under the percentage of sales method of accounting D) Under the direct write-off method of accounting
What are the ways in which companies can reduce the costs and time involved in writing letters?
What will be an ideal response?