An RRSP Allows Tax-Deductible Contributions of Up to 18 Percent

question 24

True/False

An RRSP allows tax-deductible contributions of up to 18 percent of gross income regardless of whether you are enrolled in a pension plan at work.

---

Definitions:

Contract

A binding pact between parties that has legal force and can be upheld in court.

Accept

To agree to receive or undertake something offered.

Offer

A proposal by one party to another to enter into a legal agreement, constituting one of the essential elements of a contract.

Counteroffer

A response to an offer in a negotiation, where the original offer is rejected and replaced with a new proposal.