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:

Reaction

The process of responding to internal or external stimuli, which can involve physical or emotional responses.

Infant Temperament

The inherent patterns of mood, activity, and emotional reactivity observed in infants, influencing how they interact with the environment and caregivers.

Genetic Factors

Elements within an organism's DNA that contribute to its physical traits, behaviors, and susceptibility to certain diseases or conditions.

Early Experiences

Events or stimuli that occur during the initial stages of an individual's life, which have significant impacts on development, behavior, and learning.