A Participant,who Is Age 38,in a Cash or Deferred Arrangement

question 48

Multiple Choice

A participant,who is age 38,in a cash or deferred arrangement plan [§ 401(k) ] may contribute up to what amount in 2014?

• A)$12,000
• B)$16,500
• C)$17,000
• D)$17,500
• E)None of these

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Definitions:

Durable Good

A type of goods that are not consumed all at once but rather used or consumed over a long period, such as appliances, furniture, and automobiles.

Obsolete

This term refers to products, services, or technologies that have become outdated and replaced by newer, more efficient alternatives.

Ultimate Consumers

The end-users who purchase products or services for personal use rather than for resale or manufacturing.

Many Uses

A characteristic of products or services that can be utilized in multiple ways or for various purposes, enhancing their appeal.