Which of the Following Is a Specific Retirement Plan for Self-Employed

question 5

Multiple Choice

Which of the following is a specific retirement plan for self-employed individuals who are owners of unincorporated businesses such as sole proprietorships and partnerships?

• A)ESOP.
• B)HR-10 plan.
• C)Simple IRA plan.
• D)Section 401(k)plan.

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Definitions:

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Rising Prices

This term indicates an economic situation where the general level of prices of goods and services in an economy increases over a period.

Net Income

The amount of money a company earns after all expenses and taxes have been subtracted from its total revenue.

Inventory Cost

The total cost incurred to procure, produce, and store inventory, including purchase price, production, and handling costs.