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The Study of Accounting Is Not Useful for a Business

question 31

True/False

The study of accounting is not useful for a business career unless your career objective is to become an accountant.


Definitions:

Highly Compensated Employees

Employees who receive pay above a specific threshold set by the IRS, subject to additional rules and regulations for retirement plan contributions.

Pension

A retirement plan that requires an employer to make contributions into a pool of funds set aside for an employee's future benefit.

Profit-sharing Plan

A retirement plan that gives employees a share in the profits of the company. Each employee receives a percentage of those profits based on the company's earnings.

Defined-benefit Plans

Retirement plans that promise a specific pension payment upon retirement, based on salary and years of service.

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