A felony is generally defined as a crime that:
a. may be punished by more than a year in prison
b. may be punished by the possibility of time in prison, not just a fine c. violates a federal statute punishable by up to life in prison
d. is classified as a class A offense of a state or federal statute e. none of the other choices
a
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The B/AR/CR process completes the:
a. billing process b. production process c. order-to-cash process d. inventory process
The statement of cash flows discloses the effect on cash of the purchase and sale of both short- and long-term investments
Indicate whether the statement is true or false
Active-voice verbs are preferred in business writing
Indicate whether the statement is true or false
Suppose you have a 401(k) plan, and you would like to draw the money out when you are age 45. You want the money to send your child to college. What will happen if you draw all the money out and close the account?
A) You will have to pay income taxes on the withdrawal. B) You will have to pay income taxes, plus a tax penalty, on the withdrawal. C) You will receive the money tax-free, since you paid taxes on it when you deposited it. D) You will only have to pay taxes on the amount of money drawn out that represents interest earned on your deposits.