Which of the Following Statements Is Incorrect

question 48

Multiple Choice

Which of the following statements is incorrect?

• A)With a qualified pension plan,earnings on plan assets are not taxed in the year earned.
• B)An annuity is a series of payments pursuant to a contract.
• C)Contributions to a pension plan can only be made by the beneficiary.
• D)A payment to a beneficiary from a pension plan is called a distribution.

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Definitions:

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The final judgments or orders issued by the Supreme Court, which serve as precedent for future cases.

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A system of government in which power is divided between a central authority and constituent political units.

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The 1990s refer to the decade between January 1, 1990, and December 31, 1999, marked by significant global events, technological advancements, and cultural shifts.