Today's buyers have an abundance of time, and many are keen to see salespeople.
(A) True
(B) False

Like other criminogenic cultures, the savings and loan industry placed a heavy emphasis on financial gain, risk-taking, and deregulation. In this context, the term "criminogenic" refers to an environment or culture that fosters criminal behavior, while "industry" refers to a specific sector of the economy.

During the 1980s, the savings and loan industry experienced a significant crisis that resulted in the collapse of hundreds of institutions and cost taxpayers billions of dollars. This crisis was caused by a combination of factors, including the deregulation of the industry, poor management practices, and the widespread use of risky investments.
The savings and loan industry was a criminogenic culture because it incentivized unethical behavior by rewarding individuals who engaged in fraud and other illegal activities. The industry was driven by a desire for profits, and individuals who were able to generate high returns were often promoted and given bonuses, even if their success was built on fraudulent practices.
In addition, the industry was characterized by a lack of transparency, which allowed for fraudulent practices to go undetected for long periods of time. This lack of transparency was exacerbated by the fact that the industry was largely self-regulated, which allowed for conflicts of interest to arise. Overall, the savings and loan industry serves as a cautionary tale about the dangers of criminogenic cultures. Without proper oversight and regulation, industries can become breeding grounds for fraud and corruption, which can have devastating consequences for both individuals and society as a whole.

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The type of accounts receivable system that permits a customer payment on an account balance is called an **open-item system**.

Under an open-item system, each customer account is tracked and maintained separately, and each transaction is recorded individually, creating an itemized record of each transaction. This allows customers to make payments on specific outstanding balances, rather than just making a general payment that may or may not be applied to a specific outstanding balance. Open-item systems provide a more detailed and accurate record of customer transactions, which can be useful in tracking customer payment history and resolving payment disputes. Open-item systems are commonly used by businesses that have a large number of customer accounts with frequent transactions, such as retailers and wholesalers.

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The number of shares to be used in computing basic EPS is 4,106,026.

To calculate the basic EPS, we need to determine the weighted average number of common shares outstanding during the year. This is calculated as follows:

Weighted Average Shares = Number of Shares Outstanding x Fraction of Year

The number of shares outstanding at the beginning of the year is 112,000. On March 31st, an additional 5,120,000 shares were issued, bringing the total number of shares outstanding to 5,232,000. On June 30th, a 10% stock dividend was distributed, which means that an additional 523,200 shares were issued (10% of 5,232,000). On September 30th, 112,000 shares were reacquired, which means that the total number of shares outstanding at the end of the year was 5,643,200.

To calculate the fraction of the year that each group of shares was outstanding, we need to divide the number of days by the total number of days in the year. Assuming that there were 365 days in the year, we get the following:

Shares Outstanding from January 1 to March 31: 112,000 x 90/365 = 27,726

Shares Outstanding from April 1 to June 30: 5,232,000 x 91/365 = 1,312,760

Shares Outstanding from July 1 to September 30: (5,232,000 + 523,200) x 92/365 = 1,392,147

Shares Outstanding from October 1 to December 31: (5,232,000 + 523,200 - 112,000) x 92/365 = 1,374,393

The weighted average number of common shares outstanding for the year is the sum of the above shares:

Weighted Average Shares = 27,726 + 1,312,760 + 1,392,147 + 1,374,393 = 4,106,026

Therefore, the number of shares to be used in computing basic EPS is 4,106,026.

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If Mr. Choe charged $200 on his credit card with 18% APR and he paid his balance in full within the grace period, he was required to pay $200.00. Option a is correct.

If Mr. Choe charged $200 on his credit card with an 18% APR (Annual Percentage Rate) and paid his balance in full within the grace period, he would not be required to pay any interest.

The APR of 18% is an annual rate, which means it would only apply if Mr. Choe carried the balance beyond the grace period and did not pay it off in full. Since he paid his balance in full within the grace period, he would only need to pay the amount he charged, which is $200.

Therefore, the correct answer is $200.00. Option a.

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The corporation must pay $1,800 of state income tax to Virginia.

To calculate the state income tax that must be paid by the corporation, we need to know the tax rate for corporations in Virginia.

As of 2021, the corporate income tax rate in Virginia is a flat rate of 6%. So, if the corporation has $30,000 of federal taxable income, its state income tax liability would be:

State taxable income = Federal taxable income - State and local tax deduction + Qualified worker retraining expenses

State taxable income = $30,000 - $2,000 + $2,000

State taxable income = $30,000

State income tax liability = State taxable income x State income tax rate

State income tax liability = $30,000 x 6%

State income tax liability = $1,800

Therefore, the corporation must pay $1,800 of state income tax to Virginia.

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Form W-2 is a tax form that is used to report an employee's earnings and tax withholdings to the Internal Revenue Service (IRS). This form is issued by employers to their employees at the end of each calendar year. The purpose of the W-2 form is to ensure that both the employee and the IRS have accurate information about the employee's income and taxes paid for the year. The correct option is C.

Out of the given options, the statement that accurately describes Form W-2 is option c. Form W-2 is submitted to the Social Security Administration (SSA) by the employer and provided to each employee. It contains information such as the employee's wages, tips, and other compensation, as well as federal, state, and local taxes withheld from their pay. The form also includes information about any contributions made to retirement plans or other benefits offered by the employer. This information is important for employees when they file their tax returns, and it is used by the SSA to track an employee's Social Security and Medicare earnings. The correct option is C.

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$896.88 is being applied to principal each month.

To find out how much of the monthly payment is being applied to principal, we need to subtract the interest from the total payment.
Total monthly payment = $2,042.71
Interest = $1,145.83
To find out how much is being applied to principal:
$2,042.71 - $1,145.83 = $896.88

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In a straight rebuy situation, the buyer reorders a product without any modifications because they are satisfied with the product's performance and quality.  The correct answer is D) straight rebuy.

The buying decision process can vary depending on the situation and the type of purchase.

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The correct statement is the nature of the decision determines the relative superiority of groups versus individuals. Option b is correct.

The nature of the decision determines the relative superiority of groups versus individuals. The efficacy of group versus individual decision making is unclear and cannot be decided without first considering the choice's nature.

n certain situations, groups may outperform individuals in making choices, but in other cases, individuals may be more successful.

There is no universally appropriate type of decision-making, and the choice of a group or individual decision-making approach is determined by the nature of the decision. When there is a high degree of uncertainty or ambiguity about the correct decision, group decision making may be preferable. In certain situations, individual decision-making may be preferred.

Therefore, b is correct.

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The correct term for the number of police personnel or units supervised by a particular supervisor is known as the span of control. This is an important concept in police management and refers to the number of subordinates that a supervisor can effectively manage. The correct option is C.

A wide span of control means that the supervisor is responsible for a large number of subordinates, while a narrow span of control means that the supervisor has a smaller number of subordinates to manage.

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In order to maximize utility, a consumer should consider both their personal preferences and the price of a product when making a purchase decision.

Choosing the product they like the most ensures that they derive the most satisfaction from their consumption. However, it is also important to consider the price of the product to ensure it aligns with their budget and financial goals.

Additionally, saving at least 10% of their income allows for future financial security and the ability to handle unexpected expenses. By balancing their preferences, affordability, and saving habits, consumers can make choices that optimize their overall utility and well-being.

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Commercial paper that is sold without the use of an actual paper certificate is known as book-entry paper.

This type of commercial paper is registered electronically, and the ownership is tracked through an automated system. Book-entry paper offers several advantages over traditional paper certificates. First, it is more efficient and cost-effective to manage since it eliminates the need for physical certificates, which can be lost, stolen, or damaged. Second, it is faster to transfer ownership since it can be done electronically, which is particularly important for large transactions. Finally, book-entry paper is considered more secure since it is less vulnerable to fraud and counterfeiting. Book-entry paper is commonly used in the financial markets, particularly for short-term debt instruments such as commercial paper. Commercial paper is a type of unsecured promissory note issued by corporations to finance their short-term funding needs. It is typically sold to institutional investors, such as banks, mutual funds, and pension funds, and has a maturity of 270 days or less. Commercial paper is a popular investment because it offers a relatively high yield and low credit risk compared to other short-term investments.
In conclusion, book-entry paper is a type of commercial paper that is sold without an actual paper certificate. It is registered electronically, making it more efficient, faster, and more secure than traditional paper certificates. Book-entry paper is commonly used in the financial markets, particularly for short-term debt instruments such as commercial paper, which is a popular investment among institutional investors due to its high yield and low credit risk.

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The amount by which capital outlays in the current period exceeded depreciation in governmental funds is the difference between the total expenditures on capital assets and the allocated depreciation expense in the statement of activities.

1. Identify the total capital outlays (expenditures) in the governmental funds for the current period.
2. In the statement of activities, locate the depreciation expense that has been allocated for the capital assets over their useful lives.
3. Subtract the allocated depreciation expense from the total capital outlays to find the amount by which capital outlays in the current period exceeded depreciation.

In summary, the amount by which capital outlays in the current period exceeded depreciation is calculated by subtracting the allocated depreciation expense from the total capital outlays in the governmental funds.

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Organizational commitment is the degree to which an employee identifies with a firm and is willing to exert effort on behalf of the firm. Option b is correct.

It is refers to an employee’s dedication, loyalty, and attachment to an organization, as well as their willingness to put forth a considerable effort to help the organization succeed.

According to Meyer and Allen’s Three-Component Model, there are three components of organizational commitment: affective, continuance, and normative. Affective commitment is an emotional attachment to an organization, while continuance commitment refers to an employee’s sense of obligation to remain with an organization.

Finally, normative commitment is the belief that an employee should remain with an organization due to a sense of duty and obligation. Overall, organizational commitment is crucial for employees to put forth extra effort and to remain with a company long-term.

Therefore, b is correct.

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Successful company officers view the challenges of transition to their position as opportunities for growth and development.

Successful company officers understand that transitioning to a new position brings a unique set of challenges, such as adjusting to new responsibilities, building relationships with team members, and adapting to a different work environment. They choose to see these challenges as opportunities for personal and professional growth, rather than obstacles. By embracing the challenges, they can develop new skills, gain valuable experience, and become more effective leaders.

This positive mindset enables them to navigate the transition more smoothly, adapt to their new role quickly, and ultimately, contribute to the success of the company. Additionally, by maintaining a proactive attitude, they can motivate and inspire their team members, fostering a productive and innovative work culture.

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Out of the given options, the cautious small-scale entry into the target industry seems to be a major determinant of a new venture's success. This approach allows the company to assess the market and consumer behavior without investing too much capital upfront.

It also enables the company to make necessary adjustments and improvements to its product or service before scaling up. This helps to mitigate the risks of failure and ensures a higher probability of success.

On the other hand, large-scale entry into the target industry with the aim to build market share could be risky and lead to failure if the company doesn't understand the market well enough.

Supporting many new venture projects in the hope that one will succeed may lead to scattered focus and resources, reducing the chances of success. A low level of integration between the marketing and research and development functions of the venturing company may result in ineffective product development and marketing.

Lastly, killing the new venture if it does not show a profit after the end of the third year may be too soon to gauge the success of the venture and may lead to missed opportunities. Thus, the cautious small-scale entry seems to be the most practical and effective approach to ensure a new venture's success.

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When the price level increases, the real value of wealth decreases, which leads to a decrease in purchasing power. On the other hand, when the price level decreases, the real value of wealth increases, leading to an increase in purchasing power.

This effect is important in understanding how changes in the economy, such as inflation or deflation, affect consumers' ability to purchase goods and services. Therefore, the real wealth effect plays a crucial role in the overall health of an economy.

The correct answer is c. real wealth effect. The real wealth effect refers to the change in purchasing power that results from a change in the price level.

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An expatriate employee who works and lives in the country in which he was born and is employed at the satellite location of a company is known as a local expatriate.

Local expatriates are individuals who have the skills and knowledge needed by the company but are not required to relocate to a different country to fill a role.

They are still considered part of the expatriate community but may have different benefits and allowances compared to traditional expatriates who relocate internationally.

This may include lower relocation costs and a lower cost of living adjustment, but they may still receive other benefits such as language training and cultural integration support.

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The probability of an earthquake severe enough to destroy all buildings and personal property in Eugene, Oregon, is 2%. Quincy has $3,000,000 in buildings and personal property and is considering purchasing complete earthquake insurance.

Option A: If Quincy buys earthquake insurance and an earthquake does not occur, he will have received no utility from the transaction.

This statement is true. If an earthquake does not occur, Quincy will not experience any loss, and the insurance policy will not provide any utility.

Option B: Quincy should be willing and able to pay up to $3,000,000 for earthquake insurance.

This statement is not necessarily true. The cost of the insurance policy should be based on the expected value of the loss (i.e., the probability of an earthquake multiplied by the potential loss). If the cost of the insurance policy is greater than the expected loss, Quincy may choose not to purchase the insurance.

Option C: Quincy should not purchase earthquake insurance unless he can get it for less than $60,000, because that's all he could possibly lose in an earthquake.

This statement is not necessarily true. While $60,000 may be the maximum potential loss Quincy faces in an earthquake, the expected loss is 2% of $3,000,000, which is $60,000. Therefore, if the cost of the insurance policy is less than $60,000, it may be beneficial for Quincy to purchase the insurance.

Option D: What Quincy is willing to pay for the earthquake insurance depends upon his degree of risk aversion.

This statement is true. Quincy's willingness to pay for earthquake insurance depends on his degree of risk aversion. A risk-averse individual would be willing to pay more for insurance than a risk-neutral or risk-seeking individual.

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In organizations that implement Scrum, the management team plays a crucial role in supporting the Scrum framework and ensuring its successful execution.

Their primary responsibilities include:
1. Fostering a supportive environment: Management should create a culture that encourages collaboration, open communication, and trust among team members.
2. Providing resources: It is the management's responsibility to ensure the necessary resources, such as personnel, tools, and budget, are available for the Scrum team to perform their tasks effectively.
3. Removing impediments: Management should proactively identify and resolve any obstacles or roadblocks that may hinder the Scrum team's progress.
4. Empowering the Scrum team: The management team should give the Scrum team autonomy and authority to make decisions and manage their own work, promoting self-organization.
5. Encouraging continuous improvement: Management should support the Scrum team's ongoing efforts to review and improve processes and practices, fostering a culture of learning and growth.
6. Aligning organizational goals: Management should ensure that the organization's goals and priorities align with the Scrum team's objectives, fostering a shared vision and focus.

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When it comes to gathering market research on customers, small companies tend to be at a severe disadvantage in comparison to larger companies. The correct answer is option B.

This is because large companies have more resources to dedicate to market research and often have specialized teams or departments devoted to this task. Small companies may not have the same level of expertise or access to the same data and tools that larger companies do.

Furthermore, small companies may struggle with turning their data into useful insights. They may be data rich, with lots of facts and figures, but information poor in terms of having little in a useful form. Small companies may not have the same analytical capabilities or knowledge of how to interpret and act on the information they collect.

Despite these challenges, small companies can still gather valuable market research on their customers. They can focus on gathering qualitative feedback through surveys, interviews, or focus groups. They can also leverage social media to monitor customer conversations and gather insights on their preferences and behaviors.

By taking a targeted approach to their research and focusing on their core customer base, small companies can still gain valuable insights that can inform their business decisions and help them compete with larger companies.

Therefore, the right answer is option B.

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D. prestige pricing. The idea that people will pay extra for "quality" and status is the idea behind prestige pricing.

Prestige pricing is a strategy that involves setting high prices for products or services to give the impression of high quality and exclusivity. This pricing strategy is based on the belief that consumers are willing to pay more for products or services that are associated with high status or prestige. The strategy is often used for luxury goods or high-end services such as designer clothing, fine dining, and luxury cars. By setting high prices, companies can create a perception of exclusivity and high quality, which can attract consumers who are willing to pay a premium for such products or services. Prestige pricing is a common strategy in industries such as fashion, jewelry, and luxury travel.

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Answer: E. All of these. Defending companies use various strategies to fend off competitive attacks. One strategy is to introduce new features, add new models, or broaden its product line to make the product more appealing to customers.

This can help the company maintain or increase its market share.

Another strategy is to offer volume discounts or better financing terms to customers. This can help the company retain its current customers and attract new ones.

A company can also gain product line exclusivity to force competitors to use alternate distributors. This can help the company limit its competitors' access to the market and reduce their ability to compete.

Finally, a company can offer better training and support services to its customers. This can help the company build stronger relationships with its customers and create a competitive advantage based on superior customer service.

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This situation is an example of diminishing marginal returns. Let me explain the concept step-by-step:

1. The popular bakery hires an additional baker, and as a result, they are able to produce 288 more muffins. This is the initial increase in productivity due to adding one more worker.

2. When the bakery hires another baker after that, they still experience an increase in muffin production but only by 144 muffins. This is a smaller increase compared to the previous addition of a baker.

Diminishing marginal returns occur when adding more of a variable input (in this case, bakers) to a fixed input (such as the bakery's kitchen space) leads to a decrease in the marginal productivity of the variable input. In other words, each additional baker hired contributes to a smaller increase in the total muffin production than the previous baker did.

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a) The discounted payback period is 2 years.

b) The company should not accept the project.

a) To calculate the discounted payback period, we need to determine when the cumulative discounted cash flows become positive. We discount each cash flow using the company's cost of capital of 10%:

Year 0:[tex]-$24,000[/tex] (initial investment)

Year 1: [tex]$14,000 / (1 + 0.10)[/tex]= [tex]$12,727.27[/tex]

Year 2: [tex]$13,000 / (1 + 0.10)^2[/tex] = [tex]$10,826.45[/tex]

Year 3:[tex]$15,000 / (1 + 0.10)^3[/tex] = [tex]$11,276.86[/tex]

The cumulative discounted cash flows are as follows:

Year 0:[tex]-$24,000[/tex]

Year 1: -$24,000 + $12,727.27 = -$11,272.73

Year 2: -$11,272.73 + $10,826.45 = -$445.28

Year 3: -$445.28 + $11,276.86 = $10,831.58

The discounted payback period occurs when the cumulative discounted cash flows turn positive, which happens at the end of Year 2. Therefore, the discounted payback period is 2 years.

b) Since the maximum allowable discounted payback is 1.5 years, and the actual discounted payback is 2 years, the company should not accept the project. The project takes longer to recoup the initial investment than the company's maximum allowed timeframe.

It indicates that the project's cash flows do not meet the firm's desired payback period criteria, so accepting the project may not align with the firm's objective of getting their money back as soon as possible.

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The correct answer is b. CSR can be a profitable undertaking.While there may be proponents who argue for each of the options mentioned.

The argument commonly used to support corporate social responsibility (CSR) is that it can be a profitable undertaking for businesses.

CSR initiatives can lead to various benefits, such as enhanced brand reputation, increased customer loyalty, improved employee morale and productivity, and access to new markets.

By incorporating social and environmental considerations into their strategies, businesses can not only make a positive impact on society but also generate long-term financial value.

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opportunities due to their bureaucratic nature. Option B) They systematically scan foreign markets to see where the opportunities lie is true of large firms in the context of seeking export opportunities.

Large firms typically have more resources and capabilities to engage in international business than small firms. They often conduct extensive market research and analysis to identify potential export markets and evaluate their attractiveness. This allows them to make informed decisions about which markets to enter and how to position their products or services.

Additionally, large firms may have dedicated export departments or personnel with specialized knowledge and experience in international trade, which enables them to navigate the complexities of exporting to foreign countries more effectively. Overall, large firms tend to be more proactive and strategic in seeking out and pursuing export opportunities than small firms.

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The debt in the financing decision can be influenced by several factors, like:  Market signaling,  Distress costs, Management incentives and Financial flexibility.

I. Market signaling: This factor refers to the use of debt as a way to signal the market about the financial health of the company. Issuing debt can be seen as a positive signal if investors believe that the company has a solid financial position and will be able to make its debt payments. This positive signal can lead to lower borrowing costs and increased investor confidence. Therefore, market signaling is a factor that favors the issuance of debt in the financing decision.

II. Distress costs: This factor refers to the costs that a company may incur if it experiences financial distress. Financial distress can occur when a company is unable to make its debt payments or meet other financial obligations. If a company has a high level of debt, it may be more likely to experience financial distress. In this case, the company may need to raise additional capital quickly, which can be expensive and difficult to do. Therefore, having too much debt can be a disadvantage and may lead to higher distress costs.

III. Management incentives: This factor refers to the incentives that management may have to issue debt. In some cases, management may be incentivized to issue debt because it allows them to take on more risk or pursue growth opportunities. Additionally, management may be incentivized to issue debt because it can increase their compensation or bonuses. Therefore, management incentives can be a factor that favors the issuance of debt in the financing decision.

IV. Financial flexibility: This factor refers to the ability of a company to adapt to changing market conditions or unexpected events. Having financial flexibility means that a company has the resources to respond to challenges or opportunities as they arise. Issuing debt can provide a company with financial flexibility because it gives them access to additional capital that can be used for a variety of purposes. Therefore, financial flexibility is a factor that favors the issuance of debt in the financing decision.

Based on the above analysis, the factors that favor the issuance of debt in the financing decision are I, II, and IV. Therefore, the correct answer is I, II, and IV only.

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Based on the differential analysis, Felix Company should lease the equipment instead of selling it, as leasing provides a more stable source of income and avoids the need for costly equipment replacements.

Based on the differential analysis, Felix Company should lease the equipment instead of selling it. The total revenues from selling the equipment would be $262,580 ($276,400 - $13,820 commission), while the total costs associated with leasing the equipment for three years would be $305,000 ($288,300 + $16,700). This results in a loss of $42,420 ($262,580 - $305,000) if Felix Company decides to sell the equipment.

However, if Felix Company chooses to lease the equipment, the total cost of $305,000 is still higher than the equipment's book value of $312,800 ($367,000 - $54,200). Therefore, leasing the equipment results in a loss of $7,800 ($312,800 - $305,000).

Despite incurring a loss in either option, leasing the equipment seems to be the better alternative. Leasing provides the company with a more stable source of income over a three-year period, while selling the equipment only provides a one-time revenue stream. Additionally, selling the equipment would require the company to find a replacement for future operations, which would likely be more costly than leasing it.

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Marcia's plan at Telephonic Industries is a profit-sharing plan, as the company's contributions are based on its profits and no contributions were made last year due to the lack of profit.

Marcia works for Telephonic Industries and participates in its supplemental retirement plan. Last year, the firm did not earn a profit, and as a result, it did not contribute to the supplemental retirement plan. This plan is a profit-sharing plan.

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