Funds That Normally Contain a Combination of Common Stock and Fixed

question 99

Multiple Choice

Funds that normally contain a combination of common stock and fixed income securities are known as

• A) Section 401(k) plans.
• B) Balanced funds.
• C) Contractual plans.
• D) Income funds.
• E) Flexible funds.

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Definitions:

Payroll Expense

The total amount spent by a business to compensate its employees, including wages, salaries, and bonuses.

Gross Pay

The total amount earned by an employee before any deductions, such as taxes and social security, are applied.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Hourly Wage Rate

The amount of money paid to an employee for every hour worked, typically applied to part-time or contract workers.