Which Is a Key Difference Between RRSPs and TFSAs

question 25

Multiple Choice

Which is a key difference between RRSPs and TFSAs?

• A)TFSA withdrawals are taxed.
• B)RRSPs' contribution limit accumulates.
• C)TFSAs give tax deductions on contributions.
• D)RRSP withdrawals are taxed.

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Definitions:

Skinner

B.F. Skinner, an influential American psychologist, known for his work in behaviorism and the development of the operant conditioning theory.

Behaviour

The actions or reactions of an object or organism, usually in relation to the environment or stimuli.

Faculty Member

An academic staff or educator belonging to a college, university, or institute who is involved in teaching, research, and possibly administrative duties.

Theorist

An individual who formulates theories or hypotheses, often in the context of scientific, philosophical, or social studies research.