23. Bob earns $40,000 during the current year. His employer contributes $2,000 (5 percent of Bobs salary)
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23. Bob earns $40,000 during the current year. His employer contributes $2,000 (5 percent of Bob’s salary) to a qualified retirement plan for Bob. This pension plan is what kind of plan?
a. Defined benefit plan
b. Defined contribution plan
c. Employee stock ownership plan
d. Profit-sharing plan
e. None of the above LO 3.6
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Related Book For
Income Tax Fundamentals 2011
ISBN: 9780538469197
29th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller
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