Which of the following is a true statement regarding saving for retirement?
A. In a given year, a taxpayer may participate in either an employer-sponsored defined benefit plan or defined contribution plan but not both.
B. In a given year, a taxpayer may contribute to an IRA (either traditional or Roth) or contribute to a self-employment retirement account but not both.
C. In a given year, a taxpayer who receives salary as an employee and also receives self-employment income may participate in an employer-sponsored defined contribution plan or may contribute to a self-employed retirement account but not both.
D. None of the choices are correct.
Answer: D
You might also like to view...
More retail transactions take place online now than in stores.
Answer the following statement true (T) or false (F)
During the prospecting step of the selling process, the salesperson meets the customer for the first time
Indicate whether the statement is true or false
What author was credited with proposing the first concept of a relational mental model?
a. Baldwin (1992) b. Hofstede (1980) c. Bartlett (1932) d. Sanchez-Burks (2000)
Rients Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for October. Fixed Element per MonthVariable Element per Customer ServedActual Total for OctoberRevenue $4,100$182,900Employee salaries and wages$42,300 $1,300$98,800Travel expenses $700$30,500Other expenses$31,500 $31,900?When the company prepared its planning budget at the beginning of October, it assumed that 39 customers would have been served. However, 44 customers were actually served during October.?The spending variance for "Travel expenses" for October would have been closest to:
A. $3,200 U B. $300 U C. $3,200 F D. $300 F