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Which of the Following Statements About Withdrawals from Section 401(k)plans

question 5

Multiple Choice

Which of the following statements about withdrawals from Section 401(k) plans is (are) true?
I.The penalty tax does not apply to hardship withdrawals.
II.Withdrawals may be made without penalty at age 59.5 or older.


Definitions:

Trade Deficit

A measure of international trade in which a country's imports exceed its exports.

Net Exports

A country's economic output's net impact from international trade, calculated as the difference between its total exports and total imports.

Net Exports

The value of a country's total exports minus its total imports, indicating whether a country is in a trade surplus or deficit.

Imports

Goods and services brought into a country from abroad for sale.

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