Which of the Following Statements Is Incorrect Regarding the SEP

question 80

Multiple Choice

Which of the following statements is incorrect regarding the SEP IRA?

• A)Both employers and employees can contribute to the plan.
• B)Contributions made by the due date of the tax return can be treated as made on the last day of the related tax year.
• C)Employer contributions must be nondiscriminatory.
• D)The maximum contribution for 2015 is $53,000.

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Definitions:

Predictive Validity

The extent to which a score on a scale or test predicts future performance on a related outcome.

Construct Validity

The degree to which a test or instrument measures the theoretical concept it is intended to measure.

Cognitive Deficits

Impairments in mental processes such as thinking, memory, and reasoning.

Learning Disabilities

Neurodevelopmental disorders that affect the brain's ability to receive, process, store, respond to, and communicate information, leading to challenges in learning.