Two of the Most Popular Types of Accounts of _____

question 10

Multiple Choice

Two of the most popular types of accounts of _____ include the individual retirement accounts (IRAs) and 401(k) .

• A) life,disability,and health insurance
• B) pension benefit
• C) time-off benefit
• D) life insurance

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Definitions:

Selling Expenses

Expenses incurred directly or indirectly in making a sale, such as commissions, advertising costs, and shipping expenses.

Disallowed Loss

A loss that cannot be claimed for tax deduction purposes because it does not meet certain IRS criteria.

Capital Gains

The profit from the sale of assets or investments when the selling price exceeds the original purchase price.

Adjusted Gross Income

An individual's total gross income minus specific deductions. It's used as the basis for calculating taxable income.