Question
James received a distribution of assets from a qualified retirement plan on June 8, 2016. The gross distribution totaled $58,550. James deposited the funds into
James received a distribution of assets from a qualified retirement plan on June 8, 2016. The gross distribution totaled $58,550. James deposited the funds into a money market account. On July 22, 2016, James made a $58,550 contribution to a traditional IRA. This transaction is a/an ______.
Direct rollover.
Indirect rollover.
Trustee-to-trustee transfer.
Tax-free distribution.
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Foster George, Srikand M. Datar, Maureen P. Gowing
5th Canadian Edition
0135004934, 978-0135004937
