If You Are Self-Employed or Work for a Small Business

question 54

Multiple Choice

If you are self-employed or work for a small business which of the following retirement plans would you be most likely to have?

• A) 403(b)
• B) 401(k)
• C) thrift and savings plan
• D) Keogh plan
• E) none of the above

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Definitions:

Activity Cost Pools

These are collections of all the costs related to a specific activity or process in activity-based costing.

Time-Driven

A term referring to models or systems that are based on the actual time taken to perform activities, often used in activity-based costing and scheduling.

Activity-Based Costing

An accounting method that assigns costs to products or services based on the activities they require, aiming to more accurately reflect the actual costs of production.

Customer Cost Analysis

A method for determining the total cost associated with acquiring and servicing a customer, including direct and indirect expenses.