Business

Difference Between IRA and 401k

The key difference between IRA and 401k is that IRA is planned by the employee, whereas, 401k is planned by the employer. IRA and 401k are two retirement plans that come under the tax law of the United States. Although both are retirement plans, they have some differences between them.  In this article, we refer to the …

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Difference Between Copyright and Patent

Since, in this commercialized world, protecting one’s intellectual property needs to be done very carefully, getting to know the difference between copyright and patent has become very important. To protect the exclusive rights of authors and inventors for their creative work either writing or inventions, copyrights and patent have been applied. Patents and copyrights save …

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Difference Between Financial Accounting and Management (Managerial) Accounting

Financial accounting and management (managerial) accounting are two divisions in accounting, both are equally important for an organization. Accounting plays a pivotal role in the functioning of the organizations. On a broader scale, accounting deals with the establishing, managing and auditing the accounting books of the organizations. With just the figures on sales, overheads and …

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Difference Between Rate and APR

Loans are part of our everyday life; we all take loans for our houses, cars and business. It is important to know the difference between Rate and Annual Percentage Rate or APR, because they play a very important role in deciding terms and conditions of your loan. Rate and APR determine your monthly payments, which …

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Difference Between Wage and Income

The two words ‘wage’ and ‘income’ might look similar with no difference at all whatsoever, but strictly speaking there is difference between the two words. The word ‘wage’ is often used in the plural as ‘wages’ whereas the word ‘income’ is a collective noun and the form ‘incomes’ is used sparingly. It is used as …

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