Choose the Word or Phrase in [ ] Which Will

question 18

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 self-employed person could set up a [Keogh | 403(b)] retirement plan.

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Definitions:

Operating Segment

A component of an enterprise, engaged in business activities from which it may earn revenues and incur expenses.

Consistency

An accounting principle that requires accounting methods and principles to be applied in the same manner from period to period unless a change is justified.

Income Tax Expense

The amount of money a company or individual owes to the government based on the taxable income earned during a fiscal year.

Interim Period

A temporary or Middle phase in a fiscal year or financial reporting period, often used for assessing a company's performance partway through the year.