Regarding TFSA Accounts,which of the Following Is True

question 40

Multiple Choice

Regarding TFSA accounts,which of the following is True?

• A)Using your TFSA for tuition savings makes sense as long as the funds are replaced before the next term.
• B)If your TFSA investment deposit grows from $5000 to $10 000 you can withdraw only the $5000 deposit tax free.
• C)Using a TFSA account for your everyday banking would be a good way to avoid paying tax on the interest from your bank account.
• D)Using a TFSA account to hold a cashable GIC for an emergency will mean you do not have to pay tax on the interest earned.

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Definitions:

Lateralization

The inclination for certain cognitive functions or neural processes to be stronger in one brain hemisphere compared to the other.

Myelination

The process by which nerve fibers are coated with a protective layer of myelin, which speeds up the transmission of electrical signals.

Sidedness

The preference most people show for using one side of their body more than the other, typically manifested as right-handedness or left-handedness.

Brain

The complex central organ of the nervous system, located in the head, responsible for coordinating sensory information and directing motor functions; the site of consciousness, thoughts, memories, and emotions.