Teresa just received a quarterly statement from the Vanguard Group, which shows earnings from investments using her pretax dollars. Teresa contributes a percentage of her salary to the plan and her company matches it
Teresa is participating in a(n) ________.A) pension plan
B) 401(k)
C) stock option agreement
D) ESOP
E) profit sharing plan
B
Explanation: B) A 401(k) plan is a defined contribution plan in which pretax dollars are invested. It is often managed by an outside investment company, such as the Vanguard Group. An employee's annual contribution is determined by the employee as a percentage of salary up to a specified legal limit.
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Marsha is a sole proprietor of a small quilting shop. She has considered changing her business structure, but she cannot find an alternative structure that would give her the main advantage she enjoys as a sole owner. The main advantage is that she:
a.) receives all the profits. b.) receives dividends. c.) assumes very limited risk. d.) is taxed as a corporation.
Which of the following statements is true of the doctrine of quasi contract?
A) It allows a court to award monetary damages to a defendant because no actual contract existed between the parties. B) It applies only where there is an enforceable contract between the parties. C) It is an equitable doctrine intended to prevent unjust enrichment. D) Agreement between parties to a quasi contract has been inferred from their conduct.