Which of the Following Statements Are True About a Traditional

question 38

Multiple Choice

Which of the following statements are true about a traditional IRA?
I. Subject to an income limit,in 2016 a single person could contribute up to $5,500 per year ($6,500 if over 50 years old) of pretax income to an IRA.
II. All withdrawals are tax-free.
III. Earnings on the IRA account are not taxed until withdrawn.
IV. You must begin withdrawals at age 59½.
V. Withdrawal(s) can be a lump sum or installments.

• A)I,II,IV
• B)I,II,IV,and V
• C)I,III,and V
• D)II,IV,and V
• E)III,IV,and V

Recognize the concept of self-actualization and identify its components.

Differentiate between basic and growth needs within Maslow's theory.

Identify the characteristics and behaviors of self-actualized individuals.

Understand the role of cognitive needs in human motivation.

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Definitions:

Gross Sales

The total revenue generated from all sales activity before any deductions are made for returns, allowances, or discounts.

Coupons

Certificates or electronic codes that offer a discount on the purchase price of goods or services.

F-distribution

A probability distribution used in analysis of variance (ANOVA), important for comparing variances between groups.

Degrees Of Freedom

The total number of autonomous values or numbers that can be ascribed to a statistical distribution.