What Is a 401(k)plan? How Does It Differ from an Employee

question 22

Essay

What is a 401(k)plan? How does it differ from an employee stock-ownership plan?

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Definitions:

Copyright

The exclusive right that is granted by the federal government to sell and reproduce literary, musical, or artistic works for a period of time.

Plant Asset

Long-term tangible assets that are used in the operations of a business and are not intended for sale, such as machinery, buildings, and equipment.

Machine Account

An account used in bookkeeping to track the costs and depreciation of a company's machinery.

Residual Value

Estimated value of an asset after all the allowable depreciation has been taken.