Describe the difference between a savings plan and a retirement plan. Give at least three examples of each.
What will be an ideal response?
A savings plan tends to be shorter in term than a retirement plan and the funds tend to be more liquid. For instance, a savings plan could take the form of, simply, a regular savings account. This account is highly liquid, but earns low interest. Interest-earning checking accounts (NOW) accounts earn slightly more interest than a regular savings account, are highly liquid, but require a minimum balance below which the account will not earn any interest. A third type of savings account are U.S. Savings Bonds. Bonds are a longer term and less liquid form of savings.
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Three phases of the convergence project were put on hold they were elements and recognition, measurement, and presentation and disclosure
Indicate whether the statement is true or false
Batch processing of accounts common to many concurrent transactions reduces operational efficiency
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. A stock split can involve issuing more shares of stock than authorized in the corporate charter. 2. A 3-for-1 stock split of a $3 par value share will result in three shares of $1 par value being issued for each share of $3 par value stock. 3. A memorandum entry is an entry in the journal that notes a significant event but has no debit or credit amount. 4. A small stock dividend, a large stock dividend and a stock split have no effect on total assets. 5. Small and large stock dividends have no effect on the Common Stock account.
Which of the following is true of a vertical marketing system?
A) It is formed when two or more companies at one level join together to follow a new marketing opportunity. B) It is formed when a single firm sets up two or more marketing channels to reach one or more customer segments. C) It does not give overall power to any one member in the channel. D) It has each channel member acting as a separate business unit trying to maximize its own profits. E) It has one channel member owning all the other channel members or has contracts with all other channel members.