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Financial Literacy 6.7.2 Quiz Flashcards | StudBud

Explore/Financial Literacy 6.7.2 Quiz

A benefit to contributing to your retirement account is the amount of income that's taxable is reduced.

An IRA is offered by banks, while a 401(k) is offered by an employer.

Financial Literacy 6.7.2 Quiz

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Questions 5

Answers

1
An IRA is offered by banks, while a 401(k) is offered by an employer.
True
False
2
A benefit to contributing to your retirement account is the amount of income that's taxable is reduced.
True
False
3
There are a lot of application questions on this quiz.
False
True
4
IRA stands for Individual Retirement Account
False
True
5
The difference between a 401(k) & Roth 401(k) is contributions are taxed differently.
False
True