Daryl,age 42,quit His Job

question 14

Multiple Choice

Daryl,age 42,quit his job.His employer offered a defined contribution pension plan,and the balance in the account was $30,000 when Daryl quit.He can avoid immediate taxation of these funds by

• A)taking a lump-sum distribution.
• B)using an IRA rollover account.
• C)receiving the money through four equal installments.
• D)using the funds to purchase common stock issued by the former employer.

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Definitions:

Creative Solution

An innovative or imaginative problem-solving approach that is often unconventional and yields unexpected results.

Avoiding Conflict-Handling Style

A method of dealing with disagreements by withdrawing or sidestepping to prevent direct confrontation.

Controversy

A prolonged public dispute, debate, or contention, often involving differing opinions or viewpoints on a particular matter.

Positions

The roles or ranks individuals hold within an organizational or social hierarchy.