Choose the Word or Phrase in [ ] Which Will

question 172

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-A Roth IRA will be funded with [pre | post] tax dollars.

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Definitions:

Sales Discount

A reduction given by a seller for prompt payment of a credit sale.

Cash Receipts Journal

A specialized accounting journal used to keep track of all cash inflows or receipts from various sources.

Entry

A record in an account that documents a financial transaction in bookkeeping.

Special Journals

Customized accounting journals used for recording specific types of transactions that occur frequently.