Question
3) Elena understands Personal Finance and is looking to explain how registered accounts work to her Grandma Myrtle who is 70 years old. Grandma Myrtle,
3) Elena understands Personal Finance and is looking to explain how registered accounts work to her Grandma Myrtle who is 70 years old.
Grandma Myrtle, if you withdraw from your _____________________ you must include the amount on your tax return and pay taxes on it but if you withdraw from your ______________________ there is no tax impact. You must however convert your _____________________ to a _____________________ before December 31st in the year you turn 71 years old.
a) Registered Retirement Income Fund (RRIF); Registered Retirement Savings Plan (RRSP); Tax-Free Savings Account (TFSA); Registered Retirement Income Fund (RRIF)
b) Tax-Free Savings Account (TFSA); Registered Retirement Income Fund (RRIF); Registered Retirement Savings Plan (RRSP)
c) Registered Retirement Income Fund (RRIF); Tax-Free Savings Account (TFSA); Registered Retirement Income Fund (RRIF); Registered Retirement Savings Plan (RRSP)
d) Registered Retirement Savings Plan (RRSP); Tax-Free Savings Account (TFSA); Registered Retirement Savings Plan (RRSP); Registered Retirement Income Fund (RRIF)
e) Registered Retirement Savings Plan (RRSP); Registered Retirement Income Fund (RRIF); Tax-Free Savings Account (TFSA); Registered Retirement Income Fund (RRIF)
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Internal Control A Managers Journey
Authors: K. H. Spencer Pickett
1st Edition
0471402508, 978-0471402503
