All categories

2 years ago

If an employer does not offer a retirement plan, what might be another way to save for retirement? ATraditional IRA

2 answers:

7 0

The answer to this question is C. 401k Plan
In 401k plan, employees could automatically deduct some part of their earning to be allocated to their retirement fund.
This deducted earning are considered pre-tax, so the total tax that employees will have to pay is based on the amount of the earning after the deduction.

ehidna [41]2 years ago

5 0

Option D is correct.

If an employer does not offer a retirement plan, then traditional IRA and Roth IRA might be another way to save for retirement.

Further Explanation:

A retirement plan is a plan in which an individual gets the lump sum amount of money after providing a specific number of services to the company. Sometimes, the employer does not responsible for retirement plans to their employees. In that case, the employee can take benefit from the traditional IRA and Roth IRA for save the money for retirement.

Justification for the correct and incorrect answer:

Traditional IRA: This option is incorrect.

Traditional IRA refers to the type of individual retirement account in that an employee can save his income for future use at the time of retirement. The employee opts for this account when the tax rate is lower at the time of retirement. This is not only the correct option.

Roth IRA: This option is incorrect.

Roth IRA refers to a type of individual retirement account in which the employee can save his income for future use at the time of retirement. The employee opts for this account when the tax rate is high at the time of retirement. This is not only the correct option.

401k plan: This option is incorrect.

401k plan is a type of retirement account that has been opened by the employers. This option is incorrect asthe employer does not offer a retirement plan.

Both A and B:This option is correct.

As both options A and B are correct, so this is the correct option.

Learn more:

1. Learn more about retirement

brainly.com/question/1430460

2. Learn more about life insurance

brainly.com/question/2674013

3. Learn more about negotiating the plan

brainly.com/question/10089477

Answer details:

Grade: Middle School

Subject: Taxation

Chapter: Retirement plan

Keywords:An employer, does not offer, retirement plan, might, another, way, to save, traditional IRA, Roth IRA, 401k plan, individual retirement account, lump sum, amount of money.

You might be interested in

Rios Corporation reports costs for the year as follows: Direct Materials Used $ 795 comma 000 Wages to Line Workers 270 comma 0

Pavlova-9 [17]

Answer:

$1,490,000

Explanation:

Given that,

Direct Material used = $795,000

Wages to Line workers = $270,000

Indirect Materials used = $425,000

Total product cost for the year:

Direct Material used + Wages to Line workers + Indirect Materials used

= $795,000 + $270,000 + $425,000

= $1,490,000

Therefore, the total product costs for the year is $1,490,000.

5 0

3 years ago

You and your twin sister, both 18 years of age, were in a car accident. She had a clean break across the humerus and the upper a

tigry1 [53]

Answer:

B) You will be given antibiotics to reduce bacterial infection, whereas your sister will not.

Explanation:

Since you required pins to be inserted (your skin was injured), the possibility of an infection exists. In order to try to prevent or control any bacterial infection, you need to take antibiotics.

On the other hand, your sister doesn't need to take antibiotics because her skin wasn't hurt.

7 0

3 years ago

Presented below is information for Marin Company.

hram777 [196]

Answer:

Debit Accounts Receivable for $104,700; and Credit Sales Revenue for $104,700.

Debit Cash for $85,400; and Credit Accounts Receivable for $85,400.

Explanation:

The (summary) journal entries to record the items noted will look as follows:

Particulars Debit ($) Credit ($)

Accounts Receivable 104,700

Sales Revenue 104,700

(To record net sales (all on account) for the year.)

Cash 85,400

Accounts Receivable 85,400

(Collections on accounts receivable during the year.)

3 0

2 years ago

Tamara is a Managerial Accountant at Everything New. Everything New manufactures furniture. Tamara purchased leather to be used

Murrr4er [49]

Answer:

B. Raw Materials

Explanation:

Raw materials are the basic components of manufacturing and production process in a goods manufacturing entity. Raw Materials are used in the production of a finished products (such as Crude Oil is a raw material for Petrol, Milk is a raw material for Yogurt, Yarn is a raw material for Garment whereas Petrol, Yogurt and Garment are the finished products).

Keeping in view the above discussion, the leather purchased by the Tamara, to be used on some of the furniture to be manufactured by the Everything New, shall be classified as Raw Materials.

Answer is B. Raw Materials

4 0

2 years ago

What's the idea behind bitcoin and its exchange rates ?

Brums [2.3K]

Answer:

Explanation:

https://www.bitcoinsxchanger.com/zcash-to-webmoney.php

Zcash to webmoney exchange digital coin for free is one of the best part of this site. Exchange your zcash and get big profit. We have millions of people that are exchanging their crypto coins with world's largest exchange market. Visit for more.

5 0

3 years ago