Question
Which of the following statements is incorrect? A. An annuity is a series of payments pursuant to a contract. B. A payment to a beneficiary
Which of the following statements is incorrect?
A. An annuity is a series of payments pursuant to a contract.
B. A payment to a beneficiary from a pension plan is called a distribution.
C. Contributions to a pension plan can only be made by the beneficiary.
D. With a qualified pension plan, earnings on plan assets are not taxed in the year earned.
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
