The IRS states that 401k plans cannot favor highly compensated employees over lower paid
workers.
Indicate whether the statement is true or false
TRUE
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Which of the following accounting principles require that all goods and services purchased be recorded at actual cost?
A. Expense recognition (Matching) principle. B. Consideration assumption. C. Business entity assumption. D. Going-concern assumption. E. Measurement (Cost) principle.
A known obligation of an uncertain amount that can be reasonably estimated is reported as an estimated liability.
Answer the following statement true (T) or false (F)
Kitsch Niche Corporation is a noninvestment company that wants to issue $3 million of stock in a twelve-month period. Kitsch Niche, with less than $20 million in annual sales, qualifies as a small business issuer. Before Kitsch Niche sells the stock, it must provide investors with
a. an offering circular. b. a notice of the issue. c. a red herring prospectus. d. a tombstone ad.
Which method of analysis does not consider the time value of money?
A) net present value (NPV) B) internal rate of return (IRR) C) payback D) future value of an investment (FVI)