Which of the Following Is a True Statement Regarding Saving

question 82

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 is a True statement.

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Definitions:

Esteem Needs

The need for respect—both self-respect and respect from others.