401(k), 403(b), and 457 Plans Are All Forms Of​

question 133

Multiple Choice

401(k) , 403(b) , and 457 plans are all forms of​

• A) housing supplements for those who cannot afford a home.​
• B) ​medical insurance plans for elderly folks.
• C) ​employer sponsored pension plans.
• D) ​educational scholarships for people looking to have a mid-life career change.

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Definitions:

Weighted Average Method

A cost accounting method that averages all costs of inventory available for sale during the period and assigns the average cost to both ending inventory and cost of goods sold.

Equivalent Units

A metric used in cost accounting to express the amount of work done on incomplete units of production in terms of fully completed units.

Painting Department

A specialized division within a manufacturing facility responsible for the application of paint to products.

Weighted-Average Method

An accounting technique to assign costs to inventory and cost of goods sold, based on the weighted average of the costs of similar goods.