In 2014,the Maximum Contribution a Person Could Make to an IRA

question 10

Multiple Choice

In 2014,the maximum contribution a person could make to an IRA was:

• A)$3,000
• B)$5,000
• C)$10,000
• D)$40,000
• E)$1 Million

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Definitions:

Return on Investment

A measure of the profitability and efficiency of an investment, calculated by dividing the net profit from the investment by the initial cost of the investment.

Operating Assets

Assets used in the daily operations of a business to generate income, including equipment, machinery, and buildings.

Sales

The total revenue a company generates from selling goods or services over a specific period of time.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within a year or the business cycle, whichever is longer.