Explain the difference between an IRA and a Keogh account. Explain who can have these types of accounts.

The balance sheet should be thought of as the ____ of the organization.

Match the terms with the definitions. Some terms may not be used.

a. 401 (k) plan

b. 403(b) plan

c. annuity

d. defined-benefit plan

e. defined-contribution plan

f. individual retirement account (IRA)

g. Keogh plan

h. Roth IRA

i. simplified employee pension (SEP)

j. traditional IRA

__ A company-sponsored retirement plan in which employees receive a periodic or lump-sum payment based on their account balance

Use the Internet to learn more about Roth IRAs. From the information you find, write a paragraph about Roth IRAs. Who would choose them and why?

a. codicil

b. estate

c. estate tax

d. gift tax

e. inheritance $\operatorname{tax}$

f. power of attorney

g. probate

h. reverse mortgage

i. trust

j. will

__ The legal process of proving the validity of a deceased person's will and then administrating and distributing the estate upon death

Match the terms with the definitions. Some terms may not be used.

a. codicil

b. estate

c. estate tax

d. gift tax

e. heir

f. inheritance tax

g. power of attorney

h. reverse mortgage

i. trust

j. will

__ A state tax on an heir who inherits property from an estate

Match the terms with the definitions . Some terms may not be used

a. $401(k)$ plan

b. $403(b)$ plan

c. definedbenefit plan

d. definedcontribution plan

e. individual retirement account (IRA)

f. Keogh plan

g. Roth IRA

h. Simplified Employee Pension (SEP) plan

i. traditional IRA

__ A company-sponsored retirement plan in which employees receive a periodic or lump-sum payment based on their account balance and the performance of in vestments in their account

Match the terms with the definitions. Some terms may not be used.

a. 401 (k) plan

b. 403(b) plan

c. annuity

d. defined-benefit plan

e. defined-contribution plan

f. individual retirement account (IRA)

g. Keogh plan

h. Roth IRA

i. simplified employee pension (SEP)

j. traditional IRA

__ A company-sponsored retirement plan in which retirees receive a set monthly amount based on wages earned and years of service

Match the terms with the definitions . Some terms may not be used

a. $401(k)$ plan

b. $403(b)$ plan

c. definedbenefit plan

d. definedcontribution plan

e. individual retirement account (IRA)

f. Keogh plan

g. Roth IRA

h. Simplified Employee Pension (SEP) plan

i. traditional IRA

__ A defined-contribution plan for employees of schools, nonprofit organizations , and government units

What did Descartes mean by the statement "I think, therefore I am" ?

Match the terms with the definitions. Some terms may not be used.

a. codicil

b. estate

c. estate tax

d. gift tax

e. heir

f. inheritance tax

g. power of attorney

h. reverse mortgage

i. trust

j. will

__ A legal document authorizing someone to act on your behalf

Match the terms with the definitions. Some terms may not be used.

a. codicil

b. estate

c. estate tax

d. gift tax

e. inheritance $\operatorname{tax}$

f. power of attorney

g. probate

h. reverse mortgage

i. trust

j. will

__ A state tax imposed on an heir who inherits property from an estate

Match the terms with the definitions. Some terms may not be used.

a. codicil

b. estate

c. estate tax

d. gift tax

e. heir

f. inheritance tax

g. power of attorney

h. reverse mortgage

i. trust

j. will

__ A loan against the equity in the borrower's home in which the borrower receives monthly payments

Suppose you gave a $20,000 gift to a friend. Would you pay a gift tax on$20,000 if you were single? If so, how much of the gift amount would be taxed?