Question

14 ira is 40 years old and employed. she has been able to save $100,000 in her savings account and is planning to invest in segregated funds. ira has never invested before and meets an agent for a suitable recommendation. the agent begins by analyzing her assets and liabilities to create ira’s investor profile. the agent requires her to provide some financial documents to complete the analysis. which of the following documents is the agent most likely to use to review ira’s assets? v2tqaufptkztnzbrthlazw5rnm1qut09 a. income tax return b. line of credit statement c. mortgage statement d. credit card statement v2tqaufptkztnzbrthlazw5rnm1qut09

Explanation:

To determine which document reviews assets, we analyze each option:

• Option a (Income tax return): Shows income, investments, and assets (like savings, investments) as it reports financial activity.
• Option b (Line of credit statement): Reflects a liability (credit available/used), not an asset.
• Option c (Mortgage statement): Related to a liability (mortgage debt), not an asset.
• Option d (Credit card statement): Reflects a liability (credit card debt), not an asset.

Income tax returns include details of assets (e.g., savings, investments) and income, so it’s best for reviewing assets.

Answer:

a. Income tax return