Match Each Statement with the Correct Term Below

question 2

Multiple Choice

Match each statement with the correct term below.
-Qualified pension plan

• A)An employee may exclude up to $5,000 annually of these employer-provided services.
• B)If cash is received under this program, taxpayers are taxed on the amount of cash received.
• C)A salary reduction plan that allows employees to pay for medical and child care costs with before-tax dollars.
• D)A transfer of property without any profit motivation with an intention that includes affection, charity, and respect.
• E)Payments made into an employee's account are not taxable in the current period; taxation is deferred until funds are withdrawn.
• F)Employer provided benefit that may be excluded from income because the dollar amounts are too small for a reasonable accounting.

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Definitions:

Central Processing Unit

The primary component of a computer that performs most of the processing inside a computer.

Random Access Memory

A type of computer memory that can be accessed randomly, allowing data to be stored and read in any order, significantly speeding up processes.

Relational Database

A type of database structured to recognize relations among stored items of information, using tables.

Long-Term Memory

A type of memory capable of storing large amounts of information for extended periods, ranging from days to decades.