A Defined-Contribution Plan ________

question 94

Multiple Choice

A defined-contribution plan ________.

• A)borrows from the public
• B)purchases foreign currency
• C)sets future income payments in advance
• D)makes periodic payments for a specific period of time

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Definitions:

Intangible Property

Assets that have no physical presence but have value, such as copyrights, trademarks, and patents.

Bank Accounts

Financial accounts maintained by individuals or businesses with a bank, allowing for the deposit and withdrawal of money and other financial transactions.

Stocks

Shares of ownership in a company, representing a claim on part of the company's assets and earnings.

Purchase

Purchase refers to the act of obtaining goods or services in exchange for money or other valuable consideration.