Which of the Following Statements Concerning Individual 401(k)s Is False

question 126

Multiple Choice

Which of the following statements concerning individual 401(k) s is false?

• A)In general, individual 401(k)s have higher administrative costs than SEP IRAs .
• B)Employees of the taxpayer cannot participate in individual 401(k)s.
• C)Individual 401(k)s are available only to self-employed taxpayers with 100 or fewer employees.
• D)Individual 401(k)s have contribution limitations.

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Definitions:

Protonephridia

A network of dead-end tubules lacking internal openings in certain invertebrates, serving as an excretory and osmoregulatory system.

Nephridia

Excretory organs in many invertebrates, responsible for the removal of waste products from an organism's body.

Lancelets

Small, fish-like marine animals belonging to the subphylum Cephalochordata, known for their role as a model organism in evolutionary biology.

Nephridiopores

External openings of the nephridia, which are excretory organs in many invertebrates, allowing waste to exit the body.