SIMPLE Plans May Be Administered by Companies with 100 or More

question 26

True/False

SIMPLE plans may be administered by companies with 100 or more employees earning $5,000 or more in the previous year.

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Definitions:

Car Salespersons

Car salespersons are individuals who specialize in selling vehicles to consumers, employing various techniques to negotiate sales and meet customer needs.

Lowball Technique

A persuasive strategy where an initially favorable offer is made, then changed to make it less favorable once initial commitment is achieved.

Lesser Request

A technique in persuasion and social influence where a more modest request is made after a larger one has been turned down, increasing the likelihood of compliance.

Door-In-The-Face Technique

A persuasion strategy where a large, possibly unreasonable request is made first with the expectation of refusal, followed by a smaller, more reasonable request.