Joyce, Age 40, and Sam, Age 42, Who Have Been

question 42

Multiple Choice

Joyce, age 40, and Sam, age 42, who have been married for seven years, are both active participants in qualified retirement plans. Their total AGI for 2018 is $130,000. Each is employed and earns a salary of $65,000. What are their combined deductible contributions to traditional IRAs?

• A) $0
• B) $3,000
• C) $4,000
• D) $8,000
• E) None of the above

Recognize different types of research methods (survey, archival).

Comprehend the limitations and strategies of research methods.

Distinguish between various research strategies and their appropriate applications.

Understand key anti-discrimination laws in the workplace, including their scope and who they protect.

---

Definitions:

Equity Method

An accounting technique used by a company to record its investments in other companies, where the investment is initially recorded at cost and subsequently adjusted to reflect the investing company's share of the investee's net income or losses.

Net Income

Net income refers to the total profit of a company after all expenses, taxes, and deductions have been subtracted from total revenue.

Owned Subsidiary

A company whose majority of shares or voting rights are held by another company, making it a controlling entity.

Equity Method

The equity method is an accounting technique used by firms to assess the profits earned by their investments in other companies by reporting these profits in proportion to their ownership.