An individual retirement account is an example of a(n) ____________ asset.
A)liquid
B)common
C)investment
D)household
E)budgeted

Question

Quizplus · Accepted Answer

An individual retirement account (IRA) is a type of investment asset that allows individuals to save for retirement while receiving tax benefits. It is not a liquid asset (easily converted to cash) as there may be penalties and taxes for early withdrawals. It is also not a common asset (shared by multiple parties), household asset (used for everyday living expenses), or budgeted asset (a planned allocation of funds).

An Individual Retirement Account Is an Example of A(n) ____________