Which statement describes the effect of taxes on a traditional 401(k) retirement account?
A.
A traditional 401(k) is tax exempt because the income earned isn't taxed until the money is withdrawn.
B.
A traditional 401(k) is a taxable account because the income earned is taxed when it is contributed.
C.
A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.
D.
A traditional 401(k) is tax exempt because the income earned is never taxed.
Answers
Answer:
C.
A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.
Explanation:
There are two types of 401 k plans: traditional 401k and Roth 401k plans. The difference is the way there are taxed.
The traditional 401k plan is an employer-sponsored retirement scheme. The employer withholds the employee contributions and remits the funds to the employee's 401k savings account. The amount deducted as the employee contribution is not subject to taxation at that point. Contributions to 401k plans reduce the employee's taxable income.
The amounts saved in a 401k plan are invested and generate income. Employees are not expected to pay taxes on the income generated every financial period. All taxes are deferred until the time of withdrawal.
Answer:
C. A traditional 401(k) is tax deferred because the income earned isn’t taxed until the money is withdrawn.
Explanation:
PLATO
Related Questions
An investor wants to purchase an annuity that will pay her £80,000 per year for the next 10 years. If the constant, annual effective interest rate is 2%. How much should she be willing to pay today for the annuity? Answer to the nearest pound.
Answers
Answer:
£718,607
Explanation:
Annuities are investment opportunities that require an initial settlement and gives a series of returns of a fixed amount for a specific number of periods.
In simple terms, the question requires us to calculate the amount to be paid today (Present Value) of an annuity that pays £80,000 per year for the next 10 years.
To establish the [Present Value of the Annuity, the future Cash Flows must be discounted to the Present Value using the appropriate discount rate. In our case, we will use the annual effective interest rate of 2%.
Present Value = PMT × [ 1 - 1/(1+r)^n ÷ r ]
Where,
PMT = £80,000
n = 10
r = 2%
Therefore,
Present Value = £80,000 × [ 1 - 1 / (1.02) ^ 10 ÷ 0.02]
= £718,606.80 or £718,607
Conclusion :
She be willing to pay £718,607 today for the annuity.
Steve receives a $1.50 raise from $8.25 and also insurance benefits. If he works 43 hours in week one and 30 hours in week two, and his total
deductions arer $375.00, what is his GROSS PAY and NET PAY?
Answers
Answer:
GROSS PAY: $711.75
NET PAY:$336.75
Explanation:
Total hourly pay $9.75 x hours worked (73) = gross pay
Gross pay - deductions = netpay
A type of service that requires a CPA firm to issue a report about the reliability of an assertion that is made by another party is a(n) Group of answer choices
Answers
Answer:
no
Explanation:
creo
You are planning to open a dinner only restaurant. You expect a steady flow of customers to your 35 tables. Assuming one party per table and an average check of $50 per party, how many times will you have to "turn" each table to make your revenue goal of $5,000 per night?
Answers
Answer:you have 20 tables, and each table pays 50
so your amount is 1000 dollars each time
To make 3000 dollars divide 3000 by 1000
3000/1000 = 3
You have to "turn" your tables 3 times
hope this helps
Explanation:
Renting a scooter and paying $30 per day plus $.20 per mile driven is an example of what type of cost
Answers
Answer:
C. Mixed cost
Explanation:
Here are the options to this question :
A. Conversion cost
B. Fixed cost
C. Mixed cost
D. Variable cost
Mixed cost is cost that contains both variable and fixed costs
Fixed cost is cost that doesn't vary with output. Fixed cost in this question is $30. It does not vary with miles driven
Variable cost is cost that varies with output. Variable cost in this question is $0.2. It varies with miles driven
Which situation best illustrates the role of households in the circular flow of
goods?
A. A runner buys a new pair of athletic shoes.
B. A website sells cheap books and magazines.
C. A factory produces screws used to build furniture.
O D. A company designs websites for big businesses.
Answers
A runner buys a new pair of athletic shoes best illustrates the role of households in the circular flow of goods. Thus, option A is correct.
What is circular flow of goods?The circular flow is the continuous movement of revenue, expenditure, and the production of products and services in an economy.
It demonstrates the circular redistribution of revenue between the producing unit and households. They include entrepreneurship, labor, capital, and land. Rent is the fee received in exchange for the fixed natural resource( also known as land)contribution. Wage is the comprehension received for the contributions made by human worker. Interest is the compensation received for the capital contribution. Profit is the reward for the contribution produce by the enterprise.
Therefore, we can conclude that option A is correct.
Learn more about circular flow of goods here:
https://brainly.com/question/5126058
#SPJ7
1. The economic system that is most indicative of Capitalism is known as a: 1 point
a. Command Economy
b. Free Market
c. Mixed Economy
d. Fascism
Answers
Answer:
b
Explanation:
What is interest and what is it used for?
Answers
Answer:
Interest is the monetary charge for borrowing money—generally expressed as a percentage, such as an annual percentage rate (APR). Key factors affecting interest rates include inflation rate, length of time the money is borrowed, liquidity, and risk of default. Interest can also express ownership in a company.
I found that on internet XD
What is the function of a ledger?
record only cash payments
record only credit payments
record and consolidate all financial transactions
record only sales
Answers
Answer:
Record and consolidate all financial transactions.
Explanation:
A ledger is a book that contains a record of all the transactions made- be it credit or withdrawals/ expenses. It is a book that maintains a record of any form of transaction that was ever done by a person or company.
It can also be a computer folder where the same record is made. The main point of maintaining a ledger is to keep track of, record, and also "make" solid evidence or proof of the transactions ever done. Thus, the function of a ledger is to record and consolidate all financial transactions ever done.
Sales tax is deducted from your gross wage.
True
False
Answers
Answer:
False
Explanation:
Sales Tax is applied when you purchase something.
Sales tax is deducted from your gross wage is the false statement, as sales and gross wages are two different things.
What is Sales tax?The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the shop, and paid to the government.
Thus, the statement is not true.
For more details about Sales tax, click here:
https://brainly.com/question/27020132
#SPJ2
A complete listing of your investments is called a Manifest.
True
False
Answers
Answer:
False
Explanation:
A portfolio is a term used to describe a listing of one's investments. A Portfolio will show the different classes and types of financial investments that an investor possesses. They may include stocks, bonds, real estate, and all other investments.
Manifest means to be revealed through sight or demonstration.
What are benefits of using OneDrive to store presentations? Check all that apply. It has syncing capabilities. It is affordable for most users. It can be accessed anywhere. It is easy to use and navigate. It has great search capabilities.
Answers
Answer:
A, C, D, E
Explanation:
edge
Please help
4. In which type of economy is a business owner most likely to benefit from free enterprise?
Answers
Answer:
In which type of economy is a business owner most likely to benefit from free enterprise? (1 point) In a market economy because there is lots of competition and not much take back from the government. This economy is ideal for a free enterprise.
What are the functions of money?
A. A measure of debt
B. A storehouse of value
C. A form of bartering
D. A unit of account
E. A medium of exchange
Answers
Answer:
E,C, and D, and B
Explanation:
The functions of money are- a measure of debt, a storehouse of value, a unit of account, and a medium of exchange. Thus all the options except C are the functions of money.
What is money?Money is any item or verifiable record that is widely accepted in a particular country or socio-economic context as payment for goods and services and repayment of debts, such as taxes.
Money serves as a medium of exchange, a unit of account, a store of value, and, in some cases, a standard of deferred payment. Money was historically an emerging market phenomenon with intrinsic commodity value.
Its value is derived as a result of social convention, having been declared legal tender by a government or regulatory entity; that is, it must be accepted as a form of payment within the borders of the country, for "all debts, public and private."
Therefore, options A, B,D, and E are the functions of money.
To learn more about money, click here:
https://brainly.com/question/14253896
#SPJ2
1. The supplies of the materials are abundant and can suffice the demand of
the consumers.
Answers
Which of these career clusters are most interesting to you? Check all that apply.
Business, Management, and Administration
Marketing, Sales, and Service
Finance
Government and Public Administration
Law, Public Safety, and Security
Answers
Answer:
Marketing is interesting and makes big money
Explanation:
The career clusters that are most interesting is Marketing, Sales, and Service Option(b) is correct.
What do you mean by Career clusters?Career clusters are gatherings of related sorts of work. They give you a simple method for investigating various types of occupations inside one general class.
Begin with one of the clusters like medical services or development to realize what it includes, latest things, and the various careers it offers. It's frequently more straightforward to change occupations and advance inside a career bunch. Relating to a bunch can assist you with building your career and pick qualifications like a professional education, specific preparation, or confirmations that will qualify you for a wide range of, yet related, positions.
Ventures are gatherings of organizations that have related exercises or items. Where career clusters incorporate various careers that share comparative information, abilities, and interests, enterprises incorporate numerous irrelevant careers. The career bunch/industry pages show the ventures and kinds of associations that commonly utilize laborers in each career group.
Therefore Option(b) is correct.
Learn more about Career cluster here:
brainly.com/question/11397616
#SPJ5
In the United States, people are sorted into different tax brackets so that they pay differing amounts of taxes based on their income level. Which type of tax system does this BEST demonstrate?
A. regressive
B. progressive
C. proportional
D. flat
Answers
Answer:
B. progressive
Explanation:
In a progressive tax system, the tax rate imposed on individuals and firms is based on their income levels. A low tax rate is applied to low-income earners. As income levels increases, the tax rate also increases. This means that the poor are taxed using lower tax rates compared to the wealthy.
A progressive tax system promotes equity and fair distribution of wealth. The poor have little; hence pay low taxes while the rich pay higher amounts.
Answer:
Progressive
Explanation:
Got it right on the test nun to worry about.
Listeners offer prompts to their speaker by___.
Answers
Answer:
asking "what happened then"
Explanation:
I took the quiz and got it correct
Using this table, calculate the marginal cost of each of
these quantities of bikes.
The first bike: $
The fourth bike: $
The sixth bike: $
The seventh bike: $
!! Someone please explain how to find the marginal cost, like what is the formula
Answers
Answer:
See below
Explanation:
Marginal cost is the additional expenses incurred in producing one more unit of output. Marginal cost is the expenses associated with the production of one extra unit.
In this case, there will be marginal costs in producing the first item. There is no extra unit in the first unit. Marginal costs will be zero. The second item's marginal cost will be the difference between the cost of the second and the first item.
First bike
=0
The fourth bike:
=Forth bike - third bike
=$130 -$110
= $20
The sixth bike
=sixth - fifth
=$210 -$160
=$50
The seventh bike
=seventh - sixth
=$270 -$210
=$60
First bike: $80
Forth bike: $20
Sixth bike: $50
Seventh bike $60
Dmitri bought a $1,000 bond at par value with a coupon rate of 5 percent. He determines the yield by dividing the amount of interest he earns by the price.
a. How much interest would he earn in the first year and what would be the yield?
b. How much interest would he earn in the first year and what would be the yield if he had paid $950 for the bond? What would be the interest and yield if he paid $1,050?
This is not a multiple choice question, please answer both parts if you can.
Answers
The interest earned is 5%.
Interest / Price is 4.76%
How to solve for the interest and the priceInterest can be defined as the cost of borrowing. That is, it is the additional amount that the borrower pays to the lender for a principal sum of money that was received.
How to solve the yield on the bond
Part A
Yield = Interest / Price = $50 / $1,000 = 0.05 or 5%
So, the yield on the bond is 5%.
Part B
Yield = Interest / Price = $50 / $950 = 0.0526 or 5.26%
If Dmitri paid $1,050 for the bond, the yield would be lower
Yield = Interest / Price = $50 / $1,050 = 0.0476 or 4.76%
Read more on interest and yield here:https://brainly.com/question/28499836
#SPJ1
A person who can afford a monthly payment of and signs a loan agreement with a monthly payment of is most likely a victim of predatory lending. O A. $800; $1100 O B. $900; $800 O C. $900; $900 O D. $1100; $900
Answers
Answer:
A. $800; $1100
Explanation:
Predatory lending is an unfair and sometimes illegal practice by lenders of imposing expensive loans to borrowers. In predatory lending, the lender withholds critical information or deceives the customer into signing a loan that they cannot afford to repay. Lender employs dirty and unjust tricks to get the customer sigh for the loans.
If a lender can afford to pay a maximum of $800 per month, advancing them a loan requiring payment of $1100 per month is putting a lot of financial strain on them. It is an example of predatory lending as it imposes an unfair burden on the borrower
In a cash flow statement, does "Expected monthly sales" fall under cash inflow or cash outflow?
I have this so far. Don't know if I did it correctly.
Answers
Elements may be used once, more than once or not all.. Single line text.
(1 Point)
an element that reacts with water to produce a lilac flame
2.For each of the following, give the name of an element from Period 4 (potassium to krypton), which matches the description.
Elements may be used once, more than once or not all.. Single line text.
(1 Point)
an element used as an inert atmosphere
3.For each of the following, give the name of an element from Period 4 (potassium to krypton), which matches the description.
Elements may be used once, more than once or not all.. Single line text.
(1 Point)
an element that has a valency of 3
4.Write a balanced chemical equation for the reaction between potassium and water. (Non-anonymous question). .
(1 Point)
Upload file
File number limit: 1Single file size limit: 10MBAllowed file types: Word, Excel, PPT, PDF, Image, Video, Audio
5.For each of the following, give the name of an element from Period 4 (potassium to krypton), which matches the description.
Elements may be used once, more than once or not all.. Single line text.
(1 Point)
an element with a fixed valency of 2 that not is not in group 2
help
The difference in income between the richest and poorest citizens is called a command economy. unemployment. private property. the wealth gap.
Answers
Answer:
the wealth gap.
Explanation:
The difference in income between the richest and poorest citizens is called the wealth gap.
This ultimately implies that, the wealth gap is the difference between the richest and poorest citizens living in a geographical location based on the level of their assets and net worth i.e assets minus their debts.
Hence, the information generated by the government based on the wealth gap of its citizens is typically used for formulating economic policies, plan and financial budgets.
The difference in income between the richest and poorest citizens is called the wealth gap.
What is wealth gap?Wealth gap can be defined as the difference in the income earned by the richest and the poorest citizen.
When a rich person earn more than a poor person this indicate a disparity in wealth distribution between the rich and the poor.
This tend to lead to what is called wealth gap based on the fact that their is no equality as the rich earn more than the poor.
Inconclusion the difference in income between the richest and poorest citizens is called the wealth gap.
Learn more about wealth gap here:https://brainly.com/question/4517769
A broker-dealer that accepts the risk of holding a particular security in its account to facilitate trading and provide liquidity in that security is best described as
Answers
Answer:
Market maker.
Explanation:
A broker-dealer that accepts the risk of holding a particular security in its account to facilitate trading and provide liquidity in that security is best described as a market maker.
A market maker also known as a liquidity provider refers to an individual or business firm who is saddled with the responsibility of quoting a buy or sell price for a commodity with the hope of making profit on the ask-bid price.
A permanent employee works in the same position for his or her entire career.
a. True
b. False
Answers
Answer:
false
Explanation:
Bravo! You did a great job. I bet you are ready to further evaluate your learning
about the lesson.
This assessment will gauge your mastery on the lesson about staffing.
COMPLETE THE SENTENCES: Choose the correct word or phrase from the box below
to complete each sentence.
MANAGEMENT
UNIVERSAL
STAFFING
SATISFACTION
SUCCESS
OPTIMUM
SELECTION
SKILLS INVENTORY
WORKFORCE
OBJECTIVES
Answers
Digital photography replacing film photography would be an example of a(n) _____. Group of answer choices radical innovation regressive innovation disruptive innovation architectural innovation
Answers
Answer:
disruptive innovation.
Explanation:
A disruptive innovation can be defined as an innovation that typically creates a new market for a product by displacing or removing an existing product from the market.
Digital photography replacing film photography would be an example of a disruptive innovation.
In order to search the internet you need to use software referred to as a__?
Answers
Answer:
search engine
Explanation:
A search engine is software designed to search web pages on the internet. Search engines work to provide answers to information sought from the internet. They locate, organize, and present the information sought on a database called index.
Yahoo and Bing are other examples of a search engine. It is the most known and most used.
The dot plot shows the number of emails Aaron sent his cousin each week. Number of Emails Each Week A dot plot going from 0 to 5. 0 has 3 dots, 1 has 1 dot, 2 has 0 dots, 3 has 4 dots, 4 has 7 dots, 5 has 6 dots. Where is the gap in the data? 0 2 4 7
Answers
Answer:
2
Explanation:
Based on the information given the gap in the data is 2 reason been that if 0 has 3 dots, 1 has 1 dot, 3 has 4 dots, 4 has 7 dots and 5 has 6 dots while 2 has 0 dots which means that 0,1,3,4 and 5 all have dots excepts 2 which has 0 dots which simply indicate that the lack of dots that 2 has led to the gap or interval in the data which inturn means that the gap in the data can be found on 2 due to 0 dots or lack of dots.
Therefore the gap in the data is 2.
Answer:
2 of course
Explanation:
Match the questions below with the appropriate person, company or organization that would most likely ask them. There can be more than one user per question.
Should I buy into this business?
Should I sell this business?
Is this business well run?
Is this company growing satisfactorily?
Can the business afford to pay more to its employees?
Is the business paying the proper amount of income tax?
Select answers from the following (a selection can be used more than once)
An absentee owner
A potential investor
A banker
A labour union
The government
An owner
Answers
Explanation:
i don't know the answer but also I do my best!!!