Which of the Following Is a True Statement Regarding Saving

question 38

Multiple Choice

Which of the following is a true statement regarding saving for retirement?

• A) In a given year, a taxpayer may participate in either an employer-sponsored defined benefit plan or defined contribution plan but not both.
• B) In a given year, a taxpayer who receives salary as an employee and also receives self-employment income may participate in an employer-sponsored defined contribution plan or may contribute to a self-employed retirement account but not both.
• C) In a given year, a taxpayer may contribute to an IRA (either traditional or Roth) or contribute to a self-employment retirement account but not both.
• D) None of the choices is a true statement.

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Definitions:

Refugees

Individuals who flee their country due to fear of persecution, conflict, violence, or other circumstances that seriously disturb public order and require international protection.

Tokenism

The practice of making only a perfunctory or symbolic effort to be inclusive to members of minority groups, especially by recruiting a small number of people from underrepresented groups in order to give the appearance of equality within a workforce.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort or distress due to holding conflicting beliefs, attitudes, or values.

Intergroup Aggression

Aggressive behavior that occurs between different social groups, driven by cultural, racial, or ethnic differences, often fueled by stereotypes and prejudice.