After Working for 52 Years as an Accountant in a Government

question 42

Multiple Choice

After working for 52 years as an accountant in a government agency in the state of Virginia, Angela retires from her job. On retirement, she receives a sum of $63,000, which had been accumulated over the entire period of her service. In this case, the employee-contribution retirement plan that Angela benefits from is the _____.

• A) 403(b) plan
• B) 457 plan
• C) HR10 plan
• D) 401(k) plan

---

Definitions:

Production Technology

Refers to the methods and processes used by businesses to manufacture goods and provide services.

Total Revenue

The overall amount of money generated by a firm from selling its goods and services, calculated as the unit price multiplied by the quantity sold.

Firms

Business organizations or entities that sell goods or services, usually in pursuit of profit.

Hourly Wage Rate

The amount of money paid to an employee for one hour of work.