Which of the Following Statements Is Correct

question 59

Multiple Choice

Which of the following statements is correct?

• A)Contributions to SEP plans by self-employed taxpayers are generally limited to the lesser of 15 percent of their net earned income (before the SEP deduction) or $45,000.
• B)The contribution limits for SEPs are the lesser of 25 percent of net self-employment income or $53,000 for a self-employed taxpayer.
• C)Employees may elect to make annual contributions to 401(k) plans up to the lesser of 15 percent of their net earned income (before the 401(k) deduction) or $45,000.
• D)The contribution limits for SEPs are a maximum of $17,500 ($23,000 for taxpayers 50 or older).

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Definitions:

National Culture

The shared values, norms, behaviors, and artifacts of a nation's inhabitants that distinguish it from other nations.

Geert Hofstede

A Dutch social psychologist known for his research on cross-cultural groups and organizations, notably for pioneering the study of cultural dimensions affecting work behavior.

International Human Resource Management

the management of human resources in an international context, including understanding and managing diverse workforces across different cultures.

Domestic Issues

Problems or concerns that occur within a specific country, often related to social, economic, or political matters.