Which of the Following Is a True Statement Regarding Saving

question 48

Multiple Choice

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 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.
• C)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.
• D)None of the choices are correct.

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Definitions:

Diencephalon

Second portion of the embryonic brain; in the inferior core of the adult cerebrum.

Neural Crest Cells

Embryonic cells that give rise to a diverse cell lineage including melanocytes, craniofacial cartilage and bone, and peripheral and enteric neurons and glia.

Telencephalon

Anterior division of the embryonic brain from which the cerebral hemispheres develop.

Neural Tube

An embryonic structure that develops into the brain and spinal cord.