In Some States, ______ Are Geographical Subdivisions of Counties with Little

question 47

Multiple Choice

In some states, ______ are geographical subdivisions of counties with little power.

• A) cities
• B) neighborhoods
• C) townships
• D) parishes

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Definitions:

Deductible Contribution

An investment into a qualified account, such as an IRA or 401(k), that can be subtracted from gross income to reduce taxable income.

Highly Compensated Employees

Employees who receive compensation above a specific threshold set by the IRS, subject to certain retirement plan rules.

Pension Plan

A savings strategy for retirement that mandates employers contribute to a fund reserved for an employee's future benefits.

Profit-sharing Plan

A retirement plan that gives employees a share in the profits of the company.