MrsSoon Retired at Age 68 and Withdrew the Entire $77,100

question 105

Multiple Choice

Mrs.Soon retired at age 68 and withdrew the entire $77,100 balance from an IRA to buy a sailboat.She opened this account in 1999.Which of the following statements is false?

• A)If the account is a Roth IRA,none of the withdrawal is taxable.
• B)If the account is a traditional IRA to which Mrs.Soon made $32,000 nondeductible contributions,$45,100 of the withdrawal is taxable.
• C)If the account is a traditional IRA funded entirely with deductible contributions,the entire $77,100 withdrawal is taxable.
• D)None of the above is false.

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Definitions:

Theory Y

A management theory that assumes employees are self-motivated, enjoy work, and will take responsibility if given the opportunity.

Subordinates

Individuals who are under the authority or control of someone else in an organizational hierarchy.

Empowerment

The process of granting individuals or groups more power and control over their lives, which includes improving their ability to make choices and transforming those choices into desired actions and outcomes.

Empowerment

The process of enabling or authorizing an individual or group to think, behave, take action, and control work in autonomous ways.